ICBC contributes to $5 billion revolving credit facility agreement with Petrobras Global Trading B.V. (PGT BV) for general corporate purposes (Linked to Record ID#89428 and ID#103090)

Project narrative

On December 16, 2021, Petrobras Global Trading B.V. (PGT BV) — a wholly-owned subsidiary of Petróleo Brasileiro S.A. (Petrobras) — signed a $5 billion revolving credit facility (RCF) agreement for general corporate purpose with 16 banks, including joint bookrunners (Bank of America, Bank of China, BNP Paribas, Citibank, Credit Agricole, JPMorgan Chase Bank, Mizuho, MUFG, Sumitomo Mitsui Banking Corporation, and The Bank of Nova Scotia), mandated lead arrangers (HSBC, Banco Santander), lead managers (Morgan Stanley), and participants (Deutsche Bank, ICBC, and Bank of Baroda). Bank of China’s estimated contribution is captured via Record ID#103090 and ICBC’s estimated contribution is captured via Record ID#103093. The RCF carries a 4.916-year maturity (final maturity date: November 16, 2026) with the option of a 2-year extension. Its interest rate is unknown. As of December 31, 2022, the borrower had not made any drawdowns under the $5 billion RCF (amount outstanding: $0). The $5 billion RCF replaced a $4.35 billion RCF (as captured via Record ID#89428) that Petrobras contracted in 2018, which was scheduled to mature in March 2023.