This excerpt taken from the PBR 6-K filed Apr 30, 2009.
U.S. Ex-Im Bank approves a Preliminary Commitment to Petrobras
(Rio de Janeiro, April 27 2009). PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, informs that, on April 14, 2009, Export-Import Bank of the United Stated (U.S. Ex-Im Bank) approved a Preliminary Commitment (PC) to Petrobras in support of the export of U.S. goods and services in connection with Petrobras new exploration and development activities, as well as upgrades and expansions of its existing facilities.
Petrobras can withdraw separate lines with different tenors in the next two years to finance the import of U.S. services and equipments, following the conditions established in the PC. The total financed amount approved in the PC is US$ 2 billion and the maximum repayment term is 10 years.
This approval demonstrates diverse sources of funding available to the Company to finance its Investment Plan.
This document may contain forecasts that merely reflect the expectations of the Companys management. Such terms as anticipate, believe, expect, forecast, intend, plan, project, seek, should, along with similar or analogous expressions, are used to identify such forecasts. These predictions evidently involve risks and uncertainties, whether foreseen or not by the Company. Therefore, the future results of operations may differ from current expectations, and readers must not base their expectations exclusively on the information presented herein.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: April 29, 2009
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates offuture economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.