SAO PAULO, BRAZIL — On Oct. 17, the Brazilian aircraft manufacturer Embraer announced the closing of a USD 650 million revolving credit facility with a group of national and international financial institutions.


The objective of the agreement, the first of its kind for the company since 2010, is to regain access to financial resources for three years at pre-negotiated rates, which can be renewed for another two years at the lenders’ discretion. Led by banks PNC Bank, Crédit Agricole, Natixis, MUFG, Santander, and with other lender support from around the globe, the facility allows access to the revolving credit line that can be used by Embraer's subsidiaries in the U.S. and the Netherlands, with Embraer S.A. as its guarantor.

"This operation reinforces Embraer's liquidity for the coming years and consolidates the company's credibility with Brazilian and international financial institutions that trust and believe in the company's credit. It will help us on our credit rating in the long term," highlighted Antonio Carlos Garcia, CFO of Embraer.