Petrobras Pens $1 Billion Loan Deal with Japanese BankOn Friday, October 12, Petrobras signed a loan agreement for up to US$ 1 billion with the Japan Bank for International Cooperation – JBIC, in Tokyo, Japan. This initiative allows Petrobras to meet its need to raise resources as set forth in the 2012-2016 Business Plan and to align its growth with sustainable development, mitigating the impact of the company’s activities on the environment, all in a single credit operation. A Memorandum of Understanding was also signed on the same date by these two institutions. Its purpose is to establish a strategic partnership between Petrobras and JBIC to identify future business opportunities. Petrobras and JBIC have established an ongoing relationship of close cooperation over the course of many years, and have already implemented a series of operations together. Both the financing operation and the Memorandum of Understanding will serve to further strengthen this relationship. Source: offshoreenergytoday.com
|