Petrobras gets $5 billion financing from Chinese bank

Petrobras received $5 billion financing from China Development Bank this Thursday (Dec. 22), referring to the ten-year financing, signed in February this year.

Thus, according to the company, it will not need new net borrowing within the 2017-2018 period, in line with the 2017-2021 Business and Management Plan assumptions. However, the company reported that it will continue to evaluate new funding opportunities in accordance to its liability management strategy, which focus on improving amortization profile and reducing the debt cost.

According to the contract, signed in February, Petrobras will sell 100,000 barrels of oil per day for the next decade to China National United Oil Corporation, China Zhenhua Oil Co. Ltd. and ChemChina Petrochemical Co. Ltd subject to market conditions.

Translated by Amarílis Anchieta