Petrobras Contracts New Credit from Chinese Bank

Petrobras Contracts New Credit from Chinese Bank

Petrobras Contracts New Credit from Chinese Bank

Brasilia, Dec 5 – A new contract to borrow five billion dollars was signed by Petrobras with the Chinese Development Bank (CDB) reported today the Brazilian state petroleum enterprise.

The agreement reached with the CDB, with deadline in 2027, foresees an initial outlay of half the total value this month ansd another 50 percent in January, 2018, when the prepayment of the debt of 2.8 billion dollars is duje referring to the credit contracted in 2009.

Additionally, prepayment will result in the anticipated closing of the commercial contract signed with Unipec Asia Company in the same 2009, with due date in 2019, for the preferential supply of a total volume of up to 200 thousand barrels of oil equivalent per day, explained the entity.

When the new financial agreement was signed the eve, an agreement with Unipec was also signed to provide with preference up to 100 thousansd barrels of oil equivalent per day for a term of 10 years and attending to market conditions.

In the note released today, Petrobras said they would continue evaluating new opportunities of pre-payment and new financing, according to its strategy of managing liabilities, looking to improve its repayment profile.(Prensa Latina)

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