Argentina's Petrobras Energia obtains $342 million in loans

By Reshmi Basu

New York, March 2 - Petrobas Energia SA said it obtained $342 million in loans from Petrobras Internacional Braspetro BV, a Dutch subsidiary of Petroleo Brasileiro SA.

The two loans were for $200 million and $142 million.

The $200 million loan will be payable in 10 years and carries an annual interest rate of 7.22%.

Proceeds from the loan will be used to prepay the company's financial obligations undertaken on Oct. 4, 2002.

Proceeds from the $142 million loan will be used to finance the expansion of the San Martín Gas Pipeline.

Petrobras Energia, based in Argentina, is an energy company.

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