Vivo seeks USD187m BNB loan for northeast expansion

16 Oct 2008

Brazilian cellco Vivo is looking to secure a credit line of up to BRL389 million (USD187 million) from the government-owned bank Banco do Nordeste do Brasil (BNB), the company said in a filing with the Sao Paulo stock exchange Bovespa. The loan will be disbursed through the bank’s northeastern financing fund FNE-Proinfra, says BNamericas, in order to expand Vivo’s existing coverage in Bahia, Sergipe, and Maranhao, and to deploy new networks in the states of Piaui, Ceara, Rio Grande do Norte, Paraiba, Pernambuco and Alagoas.