December 16, 1987 |
About 100 international banks committed themselves Tuesday to lend Brazil $3 billion one day after America's 13th-biggest bank acknowledged that the money it has already provided to developing nations will likely not be repaid. The $3 billion in private money, plus $1.5 billion from Brazil's central bank, is to be added to the estimated $116 billion that Brazil already owes foreigners.
April 2, 1987 |
BankAmerica said Wednesday it has placed $1.9 billion in loans to Brazil on non-accrual status, a move that will cut its first-quarter profit by $40 million and threatens to wipe out nearly all of its potential 1987 earnings. J. P. Morgan & Co., the New York-based parent of Morgan Guaranty Trust, the nation's fifth-largest bank, announced moments later that it was taking the same step on $1.3 billion in long- and medium-term loans to Brazil.
January 21, 1986 |
Brazil and a group of negotiators from 14 of its leading creditor banks have approved what one banking source called a "rough outline" of a plan to defer as much as $14 billion in payments on its foreign debt for up to seven years. The plan includes a renewal of $16 billion in short-term bank loans for the Latin American country, the largest debtor among Third World nations. The short-term loans had been due to expire last Friday.
CALIFORNIA | LOCAL
August 10, 2001
Gastao Eduardo de Bueno Vidigal, 82, chairman and the biggest shareholder of Banco Mercantil de Sao Paulo, died Tuesday in the Brazilian city. His death caused Mercantil's shares to soar on speculation that a possible sale to Citigroup Inc. may be accelerated. Vidigal, a lawyer, was the son of Gastao Vidigal, the founder of Banco Mercantil, Brazil's 22nd-largest bank in terms of assets. Consultants have said Vidigal was stalling the sale.
December 30, 1987 |
Brazil on Tuesday made the first interest payments in 10 months on its debt to commercial banks but said it will not officially end its payment moratorium until it gets more concessions from the lenders.