Offshore staff

WASHINGTON, DC -- Small and large US companies may benefit from a nonbinding preliminary commitment of $2 billion in financing from the Export-Import Bank of the US (Ex-Im Bank) to encourage purchases of US goods and services by Petróleo Brasileiro S.A. (Petrobras). Pending final approval, the financing is anticipated to support more than $2.2 billion of US exports to Petrobras.

Ex-Im Bank anticipates that this preliminary commitment will give Petrobras the opportunity to identify potential US exporters for its projects over the next two years. Upon conversion of the preliminary commitment to a final commitment, the financing could be used to support US exports on repayment terms of up to 10 years, including a potential conversion of part of the financing to establish a medium-term (one to seven years) credit guarantee facility.