Rio de Janeiro – This Tuesday (16th), Brazil’s Petrobras signed contracts with the Japan Bank for International Cooperation (JBIC) for two lines of credit amounting to US$ 1.5 billion. The financing will be operated by Mizuho Bank.
“The two financing programs represent an expansion of credit possibilities from the Japanese banks, enabling new modes of financing, and they will strengthen relations between the parties even further,” said a press release from Petrobras.
The lines of credit will enable the oil company to purchase equipment and services from Japanese companies with operations in Brazil or other countries, as provided for by a memorandum of understanding signed by Petrobras and JBIC in October 2012.
Petrobras informed that 60% of the lines will be financed by the JBIC and 40% will come from private financial institutions in Japan.
*Translated by Gabriel Pomerancblum
