The payment period was 15 years, with a grace period of three years and interest equivalent to 115% of the Interbank Deposit Certificate (CDI) per year, the reference rate for daily loans between banks and Selic relatives.
The contribution is financed by five major banks: Bradesco, Itaú, Banco do Brasil, Caixa Econômica Federal and Santander. The Treasury is expected to approve the deal as the negotiations were conducted jointly. In addition, the value of the interest rate was lower than the benchmark used by the Treasury for operations guaranteed by the Union. Once this step has been completed, the board of directors meets to authorize the award of the contract.
The aid to Correios is conditional on a restructuring plan for the state-owned company including measures to reduce costs and increase revenues so that the state-owned company returns to profit in 2027.
The strategy is to lay off 15 thousand employees, 10 thousand in 2026 and 5 thousand in 2027, via a voluntary departure plan (PDV), and to close 1 thousand units. On the revenue side, partnerships with the private sector are planned to expand the range of services provided.
During the penultimate round, the pool A group of banks, formed by Citibank, BTG Pactual, ABC Brasil, Banco do Brasil and Safra, offered an interest equivalent to 136% of the CDI to grant a loan of 20 billion reais.
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