China's $5 bln to $10 bln Petrobras loan may help pay most 2016 debt

China Development Bank International Investment

27/02/2016 24:07

RIO DE JANEIRO, Feb 26 (Reuters) - A loan announced Friday 
from China to Brazil's Petrobras is for $5 billion to $10 
billion, can be paid in cash or oil at China's request and may 
help pay the bulk of the $12 billion in debt the state-run oil 
company must repay this year, a source involved in debt talks 
told Reuters late Friday. 
    The loan from the China Development Bank  CHDB.UL  was first 
agreed to in early 2015, and when added to a $5 billion CDB loan 
made in 2009, increases the bank's debt exposure to Petroleo 
Brasileiro SA  PETR4.SA  as Petrobras is formally known, to as 
much as $15 billion the source said.  
 
 (Reporting by Jeb Blount; Editing by Bernard Orr) 
 ((Jeb.Blount@thomsonreuters.com; +55-21-2223-7143; Reuters 
Messaging: jeb.blount.thomsonreuters.com@reuters.net)) 
 
Keywords: PETROBRAS CHINA/LOAN TERMS