PetroRio turns bridge loan into three-year financing

PetroRio turns bridge loan into three-year financing

Debt Corporate & Sovereign Strategy Equity M&A Energy Brazil Latin America Loans

Brazilian oil and gas company PetroRio said Monday that local investment firm Prisma Capital had agreed to turn a $100 million bridge loan into three-year financing. PetroRio had used the loan to finance the acquisition of 80% of the Tubarão Martelo oil field and the OSX-3 floating production storage and offloading (FPSO) vessel from Dommo Energia. It announced the $140 million deal in February this year. The long-term financing carries the same interest rate as the bridge loan, but it divides t

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