July 1, 2001
Deal Type: Syndicated Export Loan
Company: Braspetro Oil Services Company
Amount: $150 million
In October 2000, Chase (now JP Morgan) acted as lead arranger in the structuring of a $150 million syndicated export loan for Braspetro Oil Services Company (Brasoil), a subsidiary of Brazil's Petrobras. The deal was unique and, according to Thérèse Rabieh, managing director, Latin America corporate finance at JP Morgan, it was the first five-year financing without security in the form of receivables for a Brazilian corporate since 1997.
The objective of the transaction was to finance the sale of Brasoil's products from various countries to Petrobras Americas Incorporate
The Latin American region supports one of the broadest ranges of deal structures within trade finance, a reflection of the contrasting nature of the individual markets and the diversity of the corporate base. Below are descriptions of some of the more interesting Latin trade finance deals over the last year.