3R Petroleum’s Brazilian subsidiary accepts $500 million loan to pay for Potiguar oilfield

Aug 2 (Reuters) – Brazilian oil company 3R Petroleum said on Tuesday its subsidiary 3R Lux had agreed to a $500 million loan to pay for the acquisition of the Potiguar oilfield.

In a securities filing, the company said the loan would be made by a group of lenders led by Morgan Stanley senior financing, including Banco do Brasil SA, Citibank, Deutsche Bank AG, HSBC Mexico SA, Itau BBA International and Santander. Brazil SA.

He added that the loan would mature within 54 to 60 months from August 2.

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With the loan, the company plans to complete its acquisition from the Potiguar Group of oil and gas producing fields as well as terminal, refinery and storage assets for private use in the Potiguar Basin in the state of northeast of the Rio Grande do Norte.

The cluster is currently owned and operated by Brazilian state oil company Petrobras.

In January, Petrobras’ board approved the sale of 22 concessions of a group of assets in the Potiguar Basin to 3R Petroleum for $1.38 billion.

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Reporting by Carolina Pulice; Editing by Brendan O’Boyle and Stephen Coates

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