Embraer Closes $650M Syndicated Credit Facility Agreement

SÃO PAULO--Brazilian aircraft maker Embraer SA said Monday it closed an agreement establishing a $650 million syndicated credit facility for three years.

The credit facility will be provided by PNC Bank, Credit Agricole, Natixis, MUFG and Santander, with other lender support, and will give Embraer a revolving credit line available to the jet maker's U.S. and Netherlands subsidiaries. Embraer SA will be the credit line's guarantor.

The agreement will provide Embraer with reinforced liquidity for the next three years, and the facility can be extended for another two years at the lenders' discretion, Embraer said.