ANNOUNCEMENT 19 Nov 2013
On 19 November 2013, the Japan Bank for International Cooperation (JBIC) signed an overseas investment loan agreement with Mitsui E&P Italia A S.r.l.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation, press release of 19 November 2013, Loan for Acquisition of Interests and Development of Oil Field in Italy: http://www.jbic.go.jp/en/information/press/press-2013/1119-15817
JBIC information on overseas investment loans: http://www.jbic.go.jp/en/finance/investment
The overseas investment loan agreement between JBIC and Italian Mitsui E&P Italia A S.r.l. has a maximum value of USD 830 million. The Japanese companies MITSUI & CO., LTD. and Mitsui Oil Exploration Co., Ltd. have a 60% and 40% indirect equity stake in the Italian company respectively. The loan finances the Italian subsidiary's acquisition of interests in the Tempa Rossa Oil Field and jointly develop the oil field with a number of foreign partners.
Overseas investment loans
JBIC provides direct loans named overseas investment loans to Japanese companies, overseas affiliates or joint ventures where Japanese companies hold equity interests and governments or financial institutions partying with such overseas affiliates. Loans support projects in specific sectors or with a specific purpose of interest to Japan. Further information can be found on the Bank’s website under overseas investment loans.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.