Brazil’s OSX Receives Another Recognition for FPSO Funding

Brazil's OSX Receives Another Recognition for FPSO Funding

OSX received the “Latin America Upstream Deal of the Year” award during Euromoney´s “13th Annual Project Finance Americas Deal of the Year Awards”, for the operation to fund US$ 850 million for building and implementing the FPSO OSX-2.

The funding agreement was executed with a group of international banks in October 2011. The ceremony was held on March 1, 2012 at the Cipriani Wall Street, in New York.

This is the second award received for the deal that funded the investment to build and implement the FPSO OSX-2. In January of this year, OSX had already received the “Oil & Gas Deal of the Year Americas” award in the “Project Finance International Awards”, in London.

In 2011, OSX also received two international awards for the funding operation of its FPSO OSX-1, amounting to US$ 420 million, the “Deal of the Year” – 2010 in the “Project Finance” category, offered by the “Marine Money” publication in New York, and the “Jane’s Transport Finance Awards”, in the “Shipping Debt Deal of the Year– South America” category, in London.

“The funding of the OSX-2 in the conditions that were negotiated, considering the global credit scenario, reaffirms the robustness and consistency of the projects developed by OSX. This deal reinvigorates the important partnerships that OSX has been building with relevant global financial institutions. We are extremely happy with our organization´s new achievement, which will enable construction of the OSX-2 within the planned schedule,” stated Roberto Monteiro, CFO and Investor Relations Officer of OSX.

Source: OSX, March 8, 2012