Petrobras Closes In on $10B China Oil Loan

摘要

Brazil's debt-saddled Petrobras is in the final stages of securing $10 billion in fresh financing from China Development Bank (CDB) in a loan tied to oil shipments, with China's imports of Brazilian crude having almost doubled last year. The two parties have signed a term sheet for $10 billion of financing, and are drafting contracts that will include a trade agreement to supply oil to Chinese companies "in similar terms to the contracts signed by the parties in 2009," the Brazilian company said late last week.