Petrobras inks $5bn financing deal with China Development Bank

RIO DE JANEIRO: Petroleo Brasileiro SA has inked a deal with China Development Bank for $5 billion in financing and a 10-year supply contract with Unipec Asia Company, the Brazilian state-controlled oil company said on Tuesday.

Half the loan, which matures in 2027, will be disbursed this month and the rest in January 2018, when the company will pay the remaining $2.8 billion it owes to the Chinese bank on a 2009 loan, Petrobras said.

The preferential supply contract for 100,000 barrels of oil equivalent per day (boe/d) to Unipec will replace another for 200,000 boe/d which was signed in 2009 and set to expire in 2019.