The Monetary Council (CMN) has authorized Correios to secure a loan of up to R$ 8 billion in 2026, backed by the Union, to fund its restructuring plan. This is an initial step, pending further approvals from the Treasury and banks. The company aims to prevent financial crises during the election period.
The CMN, made up of Finance Minister Fernando Haddad, Planning Minister Simone Tebet, and Central Bank President Gabriel Galípolo, approved the credit limit for Correios to ensure the continuity of its restructuring plan. This operation, which will carry a Union guarantee in case of default, is crucial for the company to raise additional funds.
According to sources familiar with the matter, the R$ 12 billion secured at the end of 2025 through loans from banks including Banco do Brasil, Caixa Econômica Federal, Bradesco, Itaú, and Santander is expected to last until mid-2026. However, to meet the total estimated need of R$ 20 billion — for settling debts, incentivizing PDV participation, and adjusting the health plan — an additional R$ 8 billion is required. Correios President Emmanoel Rondon stated in a December press conference that the company needs these funds to meet its obligations.
The company has begun discussions with financial institutions to gauge interest in a new operation, aiming to secure the funds by June. There is also anticipation of a R$ 6 billion injection from the Union by 2027, as per a contractual clause, preferably in 2026, subject to federal budget availability. Loan terms, such as a ten-year duration and a maximum cost of 120% of the CDI, will be set later and approved by the Treasury.
The Ministry of Finance noted that the 2026 Budget Guidelines Law (LDO) allows up to R$ 10 billion in expenses for state-owned companies with rebalancing plans to be excluded from the fiscal target. Since the authorized amount is R$ 8 billion, these expenses will not affect the primary result.
