Petrobras Inks Financing with China Development Bank

Posted by Joseph Keefe April 1, 2015

Brazil's state-run oil company Petrobras signed a $3.5 billion financing deal with China Development Bank as part of a cooperation agreement covering 2015 and 2016, according to a securities filing on Wednesday.

Ivan Monteiro, chief financial officer of the company known as Petroleo Brasileiro SA, signed the accord on a visit to China and confirmed their intention to cooperate in the future, Petrobras said in the filing.

Reporting by Roberto Samora