PDVSA Wraps Up $3.5 Billion Financing

Venezuela’s state-owned oil company has wrapped up a $3.5 billion loan led by Japan Bank for International Cooperation, Mizuho and Bank of Tokyo Mitsubishi. The deal involves two separate credit facilities worth $1.8 billion and $1.7 billion. Proceeds will fund advance oil purchases by Japan’s Marubeni and Mitsui.