In May 2011, Chairman Chen Yuan from China Development Bank (CDB) was thinking of CDB financing a major project between Petroleo Brasileiro SA (Petrobras), Brazil's state-owned oil and gas, and China Petroleum & Chemical Corporation (Sinopec), one of the largest companies in China oil. Signed two years ago, the deal was oil-for-loan agreement in which Petrobras is committed to a 10-year supply of oil Sinopec in exchange for $ 10 billion loan from the CDB. This study describes the transaction and its importance to both countries. The case also discusses the evolution of the bank's policy CDB more businesses. "Hide
by Li Jin, Matthew Preble, Aldo Sesia Source: Harvard Business School 16 pages. Publication Date: September 1, 2011. Prod. #: 212001-PDF-ENG
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