Petrobras Approves Loan for Contracts

Instant Max AI

(Petrobras, 17.Apr.2015) – Petrobras has approved the following contracts:

— R$ 4.5 billion export note with Banco do Brasil through its subsidiary BR Distribuidora for a 6-year period.

— R$ 2 billion standby loan with Caixa Econômica Federal for a 5-year period.

— R$ 3 billion standby loan with Bradesco for a 5-year period.

— Cooperation Agreement with Standard Chartered Bank for the sale and leaseback of production platforms totaling up to $3 billion and for a 10-year period.

These transactions, along with the ones already entered into this year, will meet the company’s 2015 financing requirements.

Petrobras will continue to assess financing opportunities aimed at anticipating some of the requirements for 2016.

In addition, as disclosed on 3.Feb.2015, Petrobras approved a $13.7 billion divestment plan for 2015 and 2016.

Pre-salt assets in production are not included among the upstream assets of this divestment plan.

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