Correios, the Brazilian postal service, is preparing to consult banks for a second loan to facilitate its restructuring plan, but the amount requested will be smaller than the initially anticipated R$ 8 billion. According to insiders, the new loan request is expected to be between R$ 5 billion and R$ 6 billion. This financing will also have government backing, ensuring that payments will be made in case of default.

Sources following the situation have noted that some projected costs have not materialized, and there has been an improvement in expected cash flow for the coming months due to unanticipated initiatives included in the company's financial planning. For instance, negotiations regarding overdue payments to suppliers have exceeded expectations. The management approved an internal rule prioritizing payment to creditors who provide a discount of 100% on interests and penalties, resulting in the negotiation of 97% of contracts with outstanding amounts.

This shift in financial strategy reflects a more optimistic outlook for the Correios as they strive to stabilize their operations and financial standing. The new loan will assist in addressing immediate liquidity needs while the restructuring is ongoing, potentially positioning the postal service for improved performance moving forward.