This excerpt taken from the PBR 6-K filed Mar 31, 2009.
16.11 Contracting of financing of the subsidiary Petrobras Netherlands BV from the Bank BNP Paribas
The subsidiary Petrobras Netherlands BV (PNBV) contracted financing from Banco BNP Paribas in the amount of US$ 204 millions, including political and commercial risk insurance from SACE S.P.A. in the amount of US$ 4 millions. Contractual expenses were paid in the amount of US$ 1 million. The term will be for 12 years and the contracted rate of interest was 2,60% p.a..
It also contracted financing from Export Development Canada (EDC) and Sumitomo Mitsui Banking Corporation (SMBC), Mizuho Corporate Bank Ltd. (MHCB) and the Bank of Tokyo-Mitsubishi Ufj Ltd. (BMTU), in the amount of US$ 500 million (discounting loan expenses of US$ 2 million) and ¥ 75.142 millions, equivalent to US$ 837 millions (the loan and insurance expenses total ¥ 3.730 millions, equivalent to US$ 41 millions), with maturities of 12 and 10 years. The contracted interest rates were 4,74% p.a. and 1,59% p.a., respectively.
The financing from BNP is earmarked for financing of corporate expenses of PNBV. The other financing is earmarked for the settling of loans from Braspetro Oil Services Company - Brasoil.
Additionally, on October 3 and December 1, 2008 PNBV renewed lines of credit with Santander Overseas Bank, Inc - SANTANDER in the amounts of US$ 75 millions and US$ 200 millions, whose term will be one year, which may be fully renewed for one more year, and partially for the final term of six years. The contracted interest rates were 3,62% p.a. and 3,11% p.a. respectively.