Actionable news
0
All posts from Actionable news
Actionable news in PBR: PETROLEO BRASILEIRO S.A.-PETROBRAS ADS (REP 1 COMMON SHARE),

Petrobras (PBR) Stock Lower, Seeks $1 Billion China Loan Earlier Than Expected

NEW YORK (TheStreet) -- Petrobras (PBR - Get Report) stock is falling by 10.10% to $6.59 in early-afternoon trading on Monday, as the Brazil-based energy company will seek a $1 billion loan from the Export-Import Bank of China earlier than originally planned.

The company is negotiating a definitive contract with the Chinese lender, Petrobras said in a filing, Bloomberg reports. The financing, which was initially expected in 2017, is related to equipment and service contracts from Chinese suppliers.

Petrobras has been negatively impacted by the prolonged slump in oil prices as well as Brazil's major corruption investigation.

Back by Popular...


More