Petrobras Drill Vessel Builder Gets $1B Construction Loan

Law360, New York (August 3, 2012, 12:53 PM EDT) -- The Dutch contractor building an offshore drilling ship for Petroleo Brasileiro SA has landed a $1.05 billion loan to finance construction of the vessel, which will be deployed to deepwater oil fields off the coast of Brazil, the contractor said Friday.

SBM Offshore NV and its partners, subsidiaries of Brazil's Queiroz Galvao Oleo & Gas SA and Japan's Mitsubishi Corp., said the financing package was expandable up to $1.2 billion. It will be repaid over 10 years, with payments expected to start in September 2014, SBM...
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