Petrobras Signs Credit Facility with China Exim Bank

Source: www.gulfoilandgas.com 5/9/2016, Location: South America

Petrobras has signed with the China Exim Bank a term sheet containing the main terms and conditions for a financing contract of US$1 billion and that the final agreement is already under negotiation.

The credit is related to the supply of equipment and goods, already contracted with Chinese companies, for Petrobras' projects as forecasted in the 2015-19 Business and Management Plan.

This transaction is part of Petrobras' strategy to diversify its financing sources and represents an anticipation of the financing activities planned for 2017.

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