Loading grant details…
China Eximbank provides $1 billion loan to Petrobras (linked to Record ID#69862)
| Funder | Export-Import Bank of China (China Eximbank) |
|---|---|
| Recipient Organization | Petróleo Brasileiro S.A. (Petrobras) |
| Country | Brazil |
| Start Date | May 01, 2016 |
| End Date | Jan 31, 2027 |
| Duration | 3,927 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 59380 |
Grant Description
China Eximbank provides $1 billion loan to Petrobras In May 2016, the Export-Import Bank of China (China EXIM Bank) signed a term agreement for a loan of USD $1 billion to Petrobras via a line of credit to Petrobras Global Trading BV. The agreement provided funds for equipment and goods that Petrobras has already contracted with other Chinese firms.
Petrobras intended to use the funds to relieve outstanding debt to these other firms and forward its 2018-2022 Business Plan and Management strategy to diversify funding sources.
On May 30, 2018, the first disbursement of USD $900 million was provided to Petrobras through the line of credit (see Record ID#69862). The borrower was expected to withdraw an additional $100 million from the facility agreement in May 2019.
The borrower ultimately drew down the entire $1 billion facility, but the precise date of the final drawdown is unknown.
Sources & References
- DEMONSTRAÇÕES CONTÁBEIS CONSOLIDADAS
- Disbursement of China Exim Bank loan
- Credit Facility with China Exim Bank
- PETRÓLEO BRASILEIRO S.A.—PETROBRAS
- PETRÓLEO BRASILEIRO S.A.—PETROBRAS
- Credit Facility with China Exim Bank
- UPDATE 1-Brazil's Petrobras
- China Ex-Im bank sign $1 bln loan deal
- 中巴发联合声明 签铁路电力等多领域合作文件
- Latin America And China’s ‘New Normal’ – Analysis
- Li Keqiang’s Latin America Trip: More
- Not Different
- Chinese investment not Brazil panacea: analysts
- PETROBRAS-CHINA RELATIONS: TRADE
- INVESTMENTS
- INFRASTRUCTURE PROJECTS AND LOANS1
- Brazilian Petroleum Corporation – PETROBRAS
- PETROBRAS - PETROLEO BRASILEIRO SA - Finance Debt - Lines of Credit (Detail) $ in Millions 12 Months Ended Dec.
- Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of August, 2018 Commission File Number 1-15106
- Stephenson Harwood Ship and offshore finance
- Elena Tang Managing associate
- Brazil's Petrobras
- China Ex-Im bank sign $1 bln loan deal
- Disbursment of China Exim Bank loan
- 巴油与中国进出口银行签署贷款协议
- 巴油与中国进出口银行签署贷款协议
- FORM6K MAY 30 2018
- Petrobras receives $900 mln first tranche of China EximBank loan
- Petrobras Inks US$ 7 Billion Financing Deals With Chinese Banks Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Petróleo Brasileiro S.A. (Petrobras)
Interested in applying for this grant?
Complete our application form to express your interest and we'll guide you through the process.
Apply for This GrantQuick Summary
Related Grants
