July 23, 2020 / 11:52 AM / 20 days ago

Brazil's Embraer arranging $300 million in loans with five banks

FILE PHOTO: The logo of Brazilian aviation company Embraer is seen during the Latin American Business Aviation Conference & Exhibition fair (LABACE) at Congonhas Airport in Sao Paulo, Brazil August 14, 2018. REUTERS/Paulo Whitaker

SAO PAULO (Reuters) - Brazilian planemaker Embraer SA (EMBR3.SA) said on Thursday it has signed contracts with five banks for loans totalling $300 million to strengthen its working capital.

The loans have two to four-year terms and are expected to be concluded by the end of July, Embraer said in a securities filing.

Embraer said it is still evaluating additional funding to keep a long-term debt profile consistent with its business cycle.

Reporting by Gabriela Mello; editing by Jason Neely

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