May 30, 2018 / 10:49 PM / 3 months ago

Petrobras receives $900 mln first tranche of China EximBank loan

RIO DE JANEIRO, May 30 (Reuters) - Brazil’s state-run oil company Petrobras on Wednesday received $900 million of a $1 billion loan from the Export-Import Bank of China, the company said in a statement.

Petrobras said it will receive the remaining $100 million by May next year.

The loan, part of the company’s effort to diversify its sources of finance, was signed two years ago to be used to pay for goods and services already contracted with Chinese firms. (Reporting by José Roberto Gomes Editing by James Dalgleish)

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