Petrobras, Brazil’s federal energy company, has a plan under way to raise $960 million from capital markets to finance expansion of its gas pipeline system.
The energy company said the expansion proposal calls for three new lines to transport gas from the Bolivia-Brazil pipeline. Under the plan, lines would extend from Campinas to Japeri, Campinas to Cubatao and Sao Carlos to Betim.
Petrobras has named a consortium of Japan’s Mitsui, Itochu and Mitsubishi to structure the financing. The consortium will seek 70% from international markets and 30% from the Brazilian market. Completion for structuring the financing is scheduled for year end.
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