The challenge of hosting the next Fifa World Cup just became easier Bank of America's $479 million loan and guarantee agreement to the state of Mato Grosso in west-central Brazil will radically change Latin American and Brazilian project finance. The loan, which closed on September 22 and matures in 2022, is the first private loan to Brazil's third-largest state. Brazilian states were previously banned from raising capital market debt, and so the deal involved intensive negotiations at the federal level of government.
October 30 2012