Petrobras has secured US$1.5bn in credit lines from Japanese financiers.

The total sum comes from two separate lines, both of which have been arranged by the Japan Bank for International Co-operation (JBIC), which has also contributed US$900mn from its own book.

The remainder of the finance comes from commercial banks, with Mizuho acting as agent bank. The names of the other banks haven’t been divulged.

Petrobras, the Brazilian semi state-owned energy corporation, will use the credit lines to purchase Japanese equipment and service, as per the terms of an MOU agreed with JBIC in October 2012.