Milbank Steers Lenders On $692M Brazilian Drillship Deal

Law360, New York (December 15, 2011, 6:07 PM EST) -- A Brazilian development conglomerate has secured a $692 million loan from a group of Asian and European banks to buy a deepwater oil and gas drilling ship, according to an announcement Thursday by Milbank Tweed Hadley & McCloy LLP, which advised the lenders.

Schahin Group will charter the ship to Brazilian oil titan Petroleo Brasileiro SA to explore newly discovered oil and gas reserves off the country's coast, according to a release.

Milbank advised the loan's lead arrangers — the Export-Import Bank of Korea, Japan's Mizuho...
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