Petrobras signs $1.5bn Japan credit line

Petrobras17 July 2013, News Wires – Brazil giant Petrobras says it has signed two credit lines totaling $1.5 billion from Japanese sources.

The arrangement will be financed 60% by the Japan Bank for International Cooperation, JBIC, and 40% by private Japanese institutions, with Mizuho as the agent bank, according to a statement from the state-led player.

The deal will guarantee sales of equipment and services from Japanese companies in Brazil and abroad per a preliminary MOU signed with JBIC in October 2012.

The agreement will “expand the possibilities between these entities, offer new methods of financing and reinforce even more the relationship between the two parties,” Petrobras said.

Upstream previously reported the money will be used on energy efficiency projects aimed at greenhouse-gas reduction.

– Upstream.

About the Author