This excerpt taken from the PBR 6-K filed May 31, 2005.
Memorandum of Understanding for the Financing of the Strategic Plans Capital Expenditures Program
Petrobras signed a further memorandum of understanding with Nippon Export and Investment Insurance (NEXI) and Sumitomo Mitsui Banking Corporation (SMBC), establishing the terms and conditions for financing up to US$ 300 million of the Companys capital expenditures program under the Strategic Plan for the 2004-2010 period.
The Term Sheet establishes a tenor up to 12 years for amortization with a 4 years grace period. It also establishes that the US$ 300 million will be provided by a pool of commercial banks led by SMBC and insured by NEXI.