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PBR » Topics » 27.4 Bank Credit Line

This excerpt taken from the PBR 6-K filed Nov 12, 2008.

27.4 Bank Credit Line

On October 31, 2008, Petrobras took out a loan (Bank Credit Line) from Caixa Econômica Federal (CEF) in the total amount of R$ 2.022.700 thousand. The objective of the loan is to reinforce the Company’s working capital. This loan was negotiated with the following conditions:

- Term: 180 days, principal and charges with amortization in a single payment at the end of the term;

- Interest rate: 104% of the CDI Over;

- Levying of IOF; and

- A clause for extraordinary amortization and early liquidation. The company may make extraordinary payments at any time to amortize the debt, in addition to making early liquidation.

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