This excerpt taken from the PBR 6-K filed Aug 19, 2005.
Agreement to Finance the Investment Program of the Strategic Plan.
Executed with Nippon Export and Investment Insurance (NEXI) and Sumitomo Mitsui Banking Corporation (SMBC), defining the terms and conditions for a loan of up to US$ 300 million destined to fund part of PETROBRAS investment program of the Strategic Plan for the period 2004-2010.
The terms and conditions of said loan stipulate repayment within up to 12 years, with a grace period of 4 years. They also establish that the US$ 300 million will arise from a pool of banks led by SMBC and with insurance from NEXI.