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São Paulo Opens R$2.27B Bank Loan Tender for Transit, Drainage and Climate-Adaptation Works
The city is selecting banks to provide R$2,267,476,065.22 in loans for urban infrastructure, drainage, climate-adaptation and transport projects, over 120 months with a federal guarantee.
Why it matters
São Paulo's city government has opened a competitive selection of banks to provide a total of R$2,267,476,065.22 in loans for urban infrastructure, drainage, climate-change adaptation and transport projects, including bus corridors and road works on bus routes. The call was published in the Diário Oficial on October 15 by the municipal finance secretariat.
The details
The loan is split into four tranches: three of R$600 million and one of about R$467 million, over a total term of 120 months (12 months grace plus 108 months amortization), with a federal guarantee and SAC amortization. The benchmark reference rate is 13.65% per year DI/CDI (a comparison benchmark only, not the final rate); signing requires approval from the federal treasury and the national attorney general's office.
Context
São Paulo is advancing bus-corridor projects, road rehabilitation, flood mitigation and climate adaptation of urban infrastructure. An October 14 rainstorm flooded the downtown Anhangabaú tunnel, and prosecutors have ordered the city to present a flood-prevention plan within a deadline — putting drainage works squarely in focus.
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