Brasil Brokers, HSBC Sign 5-Year Partnership for Brazil Real-Estate Loans
Brasil Brokers Participacoes SA and HSBC Bank Brasil SA signed a five-year partnership to promote and offer real-estate loans in the South American country.
Brasil Brokers will receive commission from HSBC for each loan made during the partnership, which can be extended for a further five years, the Brazilian real-estate company said in a regulatory filing today. HSBC will pay commission in advanced installments to Brasil Brokers.
Brasil Brokers said it estimates total commission of 156 million reais in the first five years and 425 million reais in 10 years, according to the filing.
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