Overview

Petrobras Global Trading B.V. borrows $714 million from China Eximbank via $750 million credit line

Commitments (Constant USD, 2023)$741,123,069

Commitment Year•2019Country of Activity•BrazilDirect Recipient Country of Incorporation•NetherlandsSector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 23, 2019

Last repayment (originally scheduled): Dec 22, 2021

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned companies

Petrobras Global Trading B.V. (PGT BV)

Loan description

Petrobras Global Trading B.V. borrows $714 million from China Eximbank via $750 million credit line

Interest type•UnknownMaturity•2 years

Narrative

Full Description

Project narrative

On December 23, 2019, China Eximbank issued a $750 million line of credit to Petrobras Global Trading B.V. (PGT BV) with a final maturity date of December 27, 2021. As of 2020, $714 million of the $750 million credit line was drawn down by the borrower.