Eve Holding gets R$160M BNDES climate credit for eVTOL R&D

Eve Holding, Inc. announced that its wholly owned subsidiary Eve Brazil has entered into a financing agreement with Brazil’s development bank BNDES to fund the electric motor development phase of its eVTOL aircraft.

Rhea-AI Filing Summary

Eve Holding, Inc. announced that its wholly owned subsidiary Eve Brazil has entered into a financing agreement with Brazil’s development bank BNDES to fund the electric motor development phase of its eVTOL aircraft. The agreement provides two credit lines: Sub-credit A of R$160 million (approximately U.S.$30.3 million) under the National Fund on Climate Change, and Sub-credit B of R$40 million (approximately U.S.$7.6 million) funded in foreign currency.

Sub-credit A carries a 7.88% per annum interest rate, while Sub-credit B bears 1.10% per annum plus a fixed BNDES rate and is updated daily based on the U.S. dollar PTAX exchange rate. Eve Brazil must use the credit within 18 months of signing, with principal for each sub-credit repaid in 26 semiannual installments from May 2028 through November 2040. BNDES may accelerate repayment or terminate the facility upon certain events described in the agreement.

Insights

Credit and capital structure analyst

Eve secures long-term BNDES funding for eVTOL motor development.

Eve Holding, via Eve Brazil, obtained two structured credit lines from BNDES totaling R$160 million and R$40 million to finance electric motor development for its eVTOL program. One tranche is linked to Brazil’s Climate Fund Program, signaling alignment with climate-focused financing, while the other uses funds raised in foreign currency.

The R$160 million Sub-credit A carries a 7.88% per annum rate, offering predictable local-currency funding. Sub-credit B adds 1.10% per annum plus a fixed BNDES system rate and is updated daily by the U.S. dollar PTAX exchange rate, introducing foreign exchange exposure on the debt balance. Both lines are subject to BNDES rules, including guarantee letters from approved financial institutions and standard acceleration and early termination clauses.

Eve Brazil must draw the credit within 18 months of signing, with principal on both sub-credits repaid in 26 semiannual installments from May 2028 to November 2040. This schedule creates a long-dated liability profile that aligns repayment with a future commercialization period, while placing ongoing obligations that will appear as a direct financial commitment once fully utilized.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What financing did EVEX announce with BNDES in this 8-K?

Eve Holding reported that its subsidiary Eve Brazil entered into a Financing Agreement with BNDES, under which BNDES agreed to provide two credit lines to support electric motor development for eVTOL aircraft.

How much credit is BNDES providing to Eve Brazil under the agreement?

The agreement includes Sub-credit A of R$160 million (approximately U.S.$30.3 million) and Sub-credit B of R$40 million (approximately U.S.$7.6 million), both available to Eve Brazil subject to specified conditions.

What are the interest rates on the BNDES loans to Eve Brazil?

Sub-credit A bears interest at 7.88% per annum. Sub-credit B bears 1.10% per annum plus a fixed rate published by the BNDES System, with its debit balance updated daily using the U.S. dollar PTAX exchange rate.

How long does Eve Brazil have to use the BNDES credit lines?

Eve Brazil must use the credit lines within 18 months from the signing date of the Financing Agreement, after which the unused portion would no longer be available under the disclosed terms.

What is the repayment schedule for the BNDES financing obtained by EVEX subsidiary Eve Brazil?

The principal for each sub-credit is to be repaid in 26 semiannual and successive installments, starting in May 2028 and ending in November 2040, creating a long-term amortization profile.

Can BNDES accelerate repayment of the Eve Brazil financing?

Yes. The agreement allows BNDES to early terminate the Financing Agreement and accelerate payment of outstanding amounts upon certain events specified in the contract.

What is the purpose of the BNDES financing for Eve Holding (EVEX)?

The credit is intended to support the electric motor development phase of Eve’s electric vertical takeoff and landing (eVTOL) aircraft, helping fund a key part of its product development.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/20/2025 - 09:31 AM Learn about SEC filing dates

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 18, 2025

EVE HOLDING, INC.
(Exact name of registrant as specified in its charter)

Delaware	001-39704	85-2549808
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

1400 General Aviation Drive Melbourne, FL	32935
(Address of principal executive offices)	(Zip Code)

(321) 751-5050

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.001 per share		EVEX		The New York Stock Exchange
Warrants, each whole warrant exercisable for one share of Common Stock		EVEXW		The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Item 1.01 Entry into a Material Definitive Agreement.

On November 18, 2025, EVE Soluções de Mobilidade Aérea Urbana Ltda. (“Eve Brazil”), a Brazilian limited liability company and a wholly owned subsidiary of Eve Holding, Inc., a Delaware corporation (the “Company”), entered into a financing agreement dated as of November 14, 2025 (the “Financing Agreement”) with Banco Nacional de Desenvolvimento Econômico e Social – BNDES, Brazil’s National Development Bank (“BNDES”), pursuant to which BNDES has agreed to grant two lines of credit to Eve Brazil. The credit is intended to support the electric motor development phase of electric vertical takeoff and landing aircrafts (“eVTOLs”). The Financing Agreement provides that the availability of such lines of credit is subject to BNDES’s rules and regulations and the compliance of certain conditions, including the delivery by Eve Brazil of guarantee letters issued by financial institutions approved by BNDES.

The first line of credit (“Sub-credit A”), in the amount of R$160 million (approximately U.S.$30.3 million) is to be provided from the resources of the National Fund on Climate Change, within the scope of the Climate Fund Program. The second line of credit (“Sub-credit B”), in the amount of R$40 million (approximately U.S.$7.6 million), is to be provided with funds raised by the BNDES System in foreign currency.

The principal amount of the debt arising from the Sub-credit A will bear an interest rate of 7.88% per annum (as compensation). The principal amount of the debt owed under Sub-credit B will bear interest at the rate of 1.10% per annum plus the fixed rate published by the BNDES System.

The debit balance from Sub-credit B, including the principal, compensatory and late payment interest, expenses, commissions and other agreed charges, will be updated daily according to the U.S. dollar exchange rate fluctuation index (PTAX), sale quotation, published by the Central Bank of Brazil on the previous business day.

Such credit lines shall be used by Eve Brazil within 18 months from the date of signing of the Financing Agreement. The principal of debt arising from each Sub-credit of this Financing Agreement shall be paid to BNDES in 26 semiannual and successive installments starting in May 2028 and ending in November 2040.

The Financing Agreement can be early terminated, and payment of any outstanding amount can be accelerated, by BNDES in certain events provided for in the Financing Agreement.

The foregoing summary of the Financing Agreement does not purport to be complete and is qualified in its entirety by reference to an English translation of the Financing Agreement, which translation is attached hereto as Exhibit 10.1 and is incorporated by reference herein.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth under Item 1.01 above is incorporated by reference into this Item 2.03.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.    Description

10.1* Financing Agreement, dated as of November 14, 2025, by and among EVE Soluções de Mobilidade Aérea Urbana, Ltda. and Banco Nacional de Desenvolvimento Econômico e Social – BNDES.

 104     Cover Page Interactive Data File (embedded within the Inline XBRL document)

* Portions of this exhibit have been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

 EVE HOLDING, INC.

Date: November 20, 2025  By:  /s/ Eduardo Siffert Couto             

    Name:     Eduardo Siffert Couto
    Title:       Chief Financial Officer