Breaking New Ground

Breaking New Ground

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

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