Overview

• The state postal company is negotiating a R$20 billion facility guaranteed by the National Treasury to obtain lower borrowing costs and longer maturities.
• The financing is structured in two tranches—R$10 billion for 2025 and R$10 billion for 2026—with Banco do Brasil, Caixa and private lenders such as BTG Pactual, Citibank and ABC Brasil in discussions.
• The board reviewed the proposal today and could vote by next week, and president Emmanoel Rondon said the plan targets a return to profit in 2027.
• The first phase of the restructuring outlines a targeted voluntary severance program, supplier contract renegotiations, asset sales and revenue diversification, including potential new services.
• Correios reports heavy losses—about R$4.4 billion in the first half of 2025 after R$2.6 billion in 2024—while opposition lawmakers criticize the plan and call for strict oversight of any Treasury guarantee.