Petroleo Brasileiro S.A. - Petrobras (PBR)

[Timothy Smith]

Petrobras (PBR -1.6%) plans to raise $2B through a 10-year leasing contract for a pair of offshore facilities with Industrial and Commercial Bank of China Leasing, Upstream reports.

PBR says it will lease the P-52 platform and P-57 FPSO vessel for 10 years as part of efforts to raise cash and reduce its massive debt load.

PBR says the deal is part of its strategy to diversify its financing sources and represents an anticipation of financing activities planned for 2016.