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Venezuela To Get $1.5B Japanese Loan

Venezuela will get a new $1.5 billion Japanese loan for expansion of its two oil refineries.

    Venezuela will get a new $1.5 billion Japanese loan for expansion of its two oil refineries,Reutersreports. The 15 year loan will be provided by theJapan Bank for International Cooperation(JBIC), eight other banks and two companies.

    The proceeds will be used to boost capacity of Venezuela state oil companyPdVSA’s refineries. Separately, PdVSA will also reopen its 2022 bond in a private operation with the central bank.

    Click here for the story fromReuters.

    Click here for additional coverage fromThe Wall Street Journal.

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