The Japan Bank for International Cooperation (JBIC, Governor: Hiroshi Watanabe) signed on July 17 a loan agreement in the aggregate amount of up to about USD564 million (JBIC portion) with Carioca MV27 B.V. (CMV27), a company incorporated in the Netherlands in which MODEC, Inc. (MODEC), Mitsui & Co., Ltd., Mitsui O.S.K. Lines, Ltd., and Marubeni Corporation have equity stakes. The loan, provided as project financing*1
, will support a project in which a long-term FPSO system chartering service will be offered by the CMV27 to Guara B.V., a consortium*2
which has a concession in the Carioca area*3
of a pre-salt oil field off the coast of Brazil, and was formed in the Netherlands by Petróleo Brasileiro S.A. (Petrobras), a state-owned oil company in Brazil, and others. The loan is cofinanced with The Bank of Tokyo-Mitsubishi UFJ, Ltd. (lead arranger), Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank, Limited, Mitsubishi UFJ Trust and Banking Corporation, and ING Bank N.V. The total cofinancing amount is about USD1,128 million.