We lead USD1 billion financing for Petrobras

Standard Chartered Bank is pleased to announce the successful closure of a USD1 billion senior secured syndicated term loan facility for Petrobras Netherlands B.V. (“Petrobras”). This cost-efficient term financing structure supports Petrobras’ deleveraging target through better cash flow, improved asset amortisation and enhanced debt maturity profile.

Standard Chartered Bank acted as sole global coordinator and bookrunner, facility agent and security agent in this transaction, which involved the participation of five other international banks (China Construction Bank, ABN AMRO Bank, Industrial and Commercial Bank of China, Banco Latinoamericano de Exportações and Commerzbank).

The Bank’s deep and long-standing relationship with Petrobras enabled it to lead on the client’s first syndicated loan facility in recent years. Standard Chartered had previously arranged a USD1 billion sale and leaseback facility for Petrobras in 2016, and this follow-up transaction is further testament to Standard Chartered’s capabilities as a leading shipping finance bank.

Nigel Anton, Head Shipping Finance, Standard Chartered Bank, commented: “Petrobras is a long-term client of Standard Chartered and we are very privileged to have had the opportunity to lead this landmark deal and to coordinate this transaction with five other globally located financial institutions. We are very pleased to have delivered a structure that strategically meets the business needs of the client. We look forward to further partnerships as we position ourselves for future opportunities with Petrobras.”

For further information please contact:

Valerie Tay,
Director, Business Communications,
+65 6596 9284