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

Brazilian planemaker Embraer SA (EMBR3.SA) said on Thursday it has signed contracts with five banks for loans totaling $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.