Sete Brasil Lenders Said to Tap $1 Billion State-Backed Fund

  • Banks received 2.68 billion reais from naval fund last week
  • Creditors said to get remaining 1.58 billion reais soon

Sete Brasil Participacoes SA’s creditors, including Banco do Brasil SA and Itau Unibanco Holding SA, received 2.68 billion reais ($670 million) from a government-backed fund and will likely tap about 1.58 billion reais more, according to a person familiar with the matter.

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