BNDES grants oil loan as Brazilian deals move slowly

BNDES grants oil loan as Brazilian deals move slowly

Loans

Brazil’s BNDES has agreed to lend BRL329.7m ($139m) to the Brazilian subsidiary of Norwegian oil services company Aker Solutions to finance oil and gas equipment. Further terms were not disclosed. Oil exploration and development in Brazil is said to be picking up, despite the high-profile defaults of OGX and Lupatech. The first cross-border bond sold by a Latin American borrower this year was a $5bn-equivalent issue from Brazil’s Petrobras, showing there is optimism on the country. Nonetheless,

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