Petrobras receives $5bn loan from Chinese development bank

Petrobras receives $5bn loan from Chinese development bank

Brazil China Bonds

Brazil's state-owned company Petrobras said it has reached a 10-year $5bn financing agreement with the China Development Bank (CDB), becoming the latest Latin American issuer to turn to China for financing.The loan is part of a $10bn term sheet that Petrobras signed with the CDB in February, Petrobras said in a statement. Petrobras also said it agreed to sell 100,000 barrels of oil per day for 10 years to China National United Oil Corporation, China Zhenhua Oil and Chemchina Petrochemical Co.The

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