Petrobras pays off CDB

Petrobras pays off CDB

Loans Debt Corporate & Sovereign Strategy Energy Brazil China

Brazil's Petrobras said it has paid off a $5 billion loan from China Development Bank (CDB) that was due in 2027 and ended an agreement to supply Chinese companies with 100,000 barrels of oil equivalent per day at market prices. The state-owned oil company prepaid a $3 billion loan from CBD in August this year. It got the $5 billion credit in December 2017 and a $2.8 billion loan in 2009. Petrobras prepaid the loan as part of its plans to lower its total debt to $60 billion, it said in a securit

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