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Bank of China participates in $1.25 billion syndicated loan with Petrobras that is linked to sustainability commitments
| Funder | Bank of China (BOC) |
|---|---|
| Recipient Organization | Petróleo Brasileiro S.A. (Petrobras) |
| Country | Brazil |
| Start Date | Jul 08, 2022 |
| End Date | Apr 30, 2033 |
| Duration | 3,949 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 95968 |
Grant Description
Bank of China contribution to USD 1.25 billion syndicated loan with Petrobras that is linked to sustainability commitments On July 8, 2022, Petróleo Brasileiro S.A. signed an $1.25 billion syndicated loan agreement with Bank of China, MUFG and The Bank of Nova Scotia.
The loan fully disbursed in July 2022.
The loan agreement included incentives for the achievement of sustainability commitments, based on corporate performance indicators of Greenhouse Gas (GHG) Intensity in the Exploration and Production (E&P) and Refining segments, as well as of Methane Intensity in the E&P segment.
Staff Comments
- The size of Bank of China’s contribution to the loan syndicate is unknown. For the time being, AidData assume equal contributions ($416,666,666) from the three members of the loan syndicate.
- This was reportedly the first time Petrobras had contracted financing associated with its corporate sustainability targets, which reinforced the company's focus on the decarbonization of its operations and expanded the liability management strategy by diversifying financing models, in line with the sustainability requirements that are increasingly present in the debt markets.
Sources & References
- Brazil’s Petrobras says it signed a $1.25 billion sustainability loan
- Petrobras Debuts in Green Financing With $1.25 Billion Loan
- Petrobras signs first sustainability-linked loan
- Post-IPO Debt - Petrobras
- Petrobras makes green finance debut with $1.25bn loan
- Please contact us to get a copy of this content
- Brazil's Petrobras says it signed a $1.25 billion sustainability loan
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION
- FORM 6-K PETRÓLEO BRASILEIRO S.A. – PETROBRAS
- FORM 6-K/A PETROBRAS - PETROLEO BRASILEIRO SA
- Petrobras Relatório de Sustentabilidade 2023
- Petrobras Form 20-F 2022
- Petrobras Relatório de Sustentabilidade 2022
- Petrobras Caderno de Clima 2022
- Petrobras Relatório de Gestão 2022 Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Petróleo Brasileiro S.A. (Petrobras)
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