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