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

SAO PAULO (Reuters) – Brazilian planemaker Embraer 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)