Petrobras $5 billion financing

Overview:

• Petrobras has obtained $5 billion in new financing from the China Development Bank. 
• The first tranche for $3.5 billion closed April 2015 and the second for $1.5 billion closed June 2015.
• This transaction took place amidst "Operation Carwash," a scandal involving allegations of corruption at state-owned Brazilian oil company, Petrobras.
• The deal also exemplifies the trend of Chinese investment in Latin America. 

Rani Mehta - Journalist