Citgo Petroleum loan amended

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19 February 2010

PDVSA subsidiary Citgo Petroleum has amended a 2005 dual tranche revolving credit B-loan arranged by bookrunners BNP Paribas and JPMorgan.

Citgo Petroleum Corporation, the wholly-owned US-based subsidiary of Venezuela’s PDVSA has amended a November 2005 facility to increase pricing and change covenants to better match today’s loan environment.

The $1.85 billion loan is led by bookrunners BNP Paribas and JPMorgan and is split into two tranches. The...

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