Petrobras Inks $3.5B Facility Agreement with China Development Bank



Petroleo Brasileiro S.A. (Petrobras) announced Wednesday that it has executed today with China Development Bank Corporation (CDB) the first Facility Agreement of a cooperation arrangement to be implemented during 2015 and 2016. The Agreement is being executed in China, during Petrobras CFO Ivan Monteiro's visit.

This contract represents a $3.5 billion facility agreement, to be withdrawn by Petrobras Global Trading BV – PGT, Petrobras’ subsidiary. In addition, the parties confirmed the intention of developing new cooperation in the near future.

The Facility Agreement is an important milestone to develop further the strategic partnership between CDB and Petrobras targeting to enhance the synergy between the economies of both countries.



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