Petrobras pens $3.5B loan deal with China

Brazilian national oil company Petrobras  yesterday, with China Development Bank Corporation – CDB, executed the first Facility Agreement of a cooperation arrangement to be implemented during 2015 and 2016. The Agreement was reached in China, during Petrobras CFO visit, Ivan Monteiro.

This contract represents a US$ 3.5 billion loan, to be withdrawn by Petrobras Global Trading BV – PGT, Petrobras’ subsidiary. In addition, the parties confirmed the intention of developing new cooperation in the near future.

“The Facility Agreement is an important milestone to develop further the strategic partnership between CDB and Petrobras targeting to enhance the synergy between the economies of both countries,” Petrobras said in a statement.

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