Banco Do Brasil News

Aldemir Bendine, the former chief executive of state-controlled oil firm Petroleo Brasileiro SA and Banco do Brasil, was found guilty on Wednesday of corruption charges and sentenced by a federal judge to 11 years in prison. Judge Sergio Moro ruled that Bendine used his position at Petrobras to take 3 million reais ($924,527) in bribes from construction firm Odebrecht. "The condemned took his position as CEO of Petrobras amid a corruption scandal and with the expectation that he would solve problems," Moro wrote in his ruling. Bendine's legal team did not immediately reply to requests for comment. His attorneys said throughout the trial that he was innocent and that no company received special benefits from Petrobras or Banco do Brasil under his leadership.

At the 33rd ordinary meeting on Thursday, 1 December, the Board of Directors of the Merchant Marine Fund (CDFMM), at the Ministry of Transport, Ports and Civil Aviation in Brasilia (DF), approved to finance basis 2.15 billion reais for the construction of a new ship repair facility in Brazil as part of a 9.15 billion reais program for new and existing projects. Company (BBDC). The yard will be located in the municipality of Lucena, in the northeastern Brazilian state of Paraíba. Banco da Amazônia. depending on a number of project parameters. relevant authorities in Brazil in July of this year and clears the way to support funding efforts for the project.

Brazilian shipbuilder Engevix Construcoes Oceanicas (Ecovix) is expected to file for bankruptcy protection from creditors in a local court this month, the newspaper Valor Economico said on Wednesday. The company, based in Rio de Janeiro, has more than 6 billion reais ($1.7 billion) in outstanding debts, according to Valor. Ecovix did not immediately respond to requests for comment made via phone and email. According to Valor, Ecovix's creditors include state-run oil company Petrobras, suppliers, China's Cosco, Norway's NOV and also local banks Bradesco, Banco do Brasil and Caixa Economica Federal. The company's expected request for protection from creditors is intended to give it room to negotiate a debt restructuring and the sale of company assets to new investors, the paper said.

Petrobras reports that it has received the letter of resignation of Mr. Aldemir Bendine the functions of a member of the Board of Directors and President of the Company today. In addition, Mr. Bendine also resigned today, the office of member of the Board of Directors of Petrobras Distribuidora - BR. In view of the resignation, the Board held a special meeting that has elected Pedro Pullen Parente engineer as a member of the Board of Petrobras today. The Council at the same meeting also elected Mr. Pedro Parente for the office of President of the Company since 05.31.2016 and has appointed the Director of Human Resources, Safety, Environment and Health and Human Services, Hugo Repsold Junior, for the interim exercise of the functions of the President of the Company.

Log-In Logística Intermodal SA , one of Brazil's largest operators of cargo ships and port terminals, hired Moelis & Co. to advise on the refinancing of 1.9 billion reais ($475 million) worth of bank loans, three sources with direct knowledge of the situation said on Wednesday. The board of Rio de Janeiro-based Log In, which has more than 1,500 clients in South America's Mercosur trade bloc, this week approved the renegotiation of payment terms with creditors, said two of the sources, who requested anonymity. Bankers at Moelis began meetings with creditors, Itaú Unibanco Holding SA, Banco do Brasil SA, HSBC Holdings Plc and Banco Santander Brasil SA , on Wednesday, one of the sources said.

The following news round up on the Brazilian marine and offshore market is provided by SSA (Voice of UK Marine Industry).  Transpetro will issue a new tender for the procurement of three bunker vessels under Promef II (2nd phase of the Fleet Modernization and Renewal Programme) up to June 30. The Brazilian government confirmed the delivery of the first vessel to 2019 and the remaining two vessels in 2020. These vessels were originally contracted to Superpesa to be delivered in 2013, but because of the delay in the delivery dates, Transpetro cancelled the orders in December 2012.  Last month, the Petrobras Engineering Director…

OSX 2 Leasing B.V., a subsidiary of the OSX Brasil S.A., entered into a facility agreement with a syndicate of international banks lead by ING, Itaú-BBA and Santander, related to the granting of a loan in the amount of US$ 850 million, pursuant to the contractual terms, for investment in the construction and installation of the FPSO OSX-2. The facility was initially underwritten by the three lead banks and thereafter syndicated globally. In addition to the lead banks, the financial institutions participating in the syndicate are: HSBC, Citibank, ABN Amro Bank, Banco do Brasil and NIBC. The general conditions of the loan are: average interest of Libor rates + 4.41 % p.a.…