Financing Agreement with ICBC Leasing

Source: www.gulfoilandgas.com 10/13/2015, Location: South America

Petrobras concluded the negotiations with the Industrial and Commercial Bank of China Leasing - ICBC Leasing related to a financing transaction amounting to US$2 billion for a period of 10 years, through a financing leasing related to two already existing platforms (P-52 and P-57).

This transaction is part of the cooperation agreement to create a long-term relationship between Petrobras and ICBC, entered into during the visit of the Chinese prime minister Li Keqiang to Brazil in May 2015.

The funds will be available for disbursement after the internal approvals of both institutions.

This transaction is part of Petrobras' strategy to diversify its financing sources and represents an anticipation of the financing activities planned for 2016.

Facts deemed relevant on this topic will be timely communicated to the market.

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