Shearman & Sterling represented Mizuho Corporate Bank, Ltd., as lead arranger, intercreditor agent and NEXI agent, and the senior lenders in the $910 million structured financing of the PDET offshore oil transportation project in Brazil. The senior loans consist of a $491.4 million facility to be provided by Japan Bank for International Cooperation and a $327.6 million facility to be provided by a syndicate of commercial banks and insured by Nippon Export and Investment Insurance – NEXI. Mitsubishi Corp. and Marubeni Corp., as equity investors and subordinated lenders, will provide the remainder of the project’s financing. Petróleo Brasileiro S.A. – Petrobras is the project’s sponsor. The PDET project will connect five offshore crude oil platforms with a central transportation platform to ship crude oil to refineries in Brazil and internationally.