11 February 2013

Angola: Oil Company Concludes Deal With China's Bank

Luanda — Angola Oil Company (Sonangol) has concluded the deal on one billion Euros with the China Development Bank, Angop has learnt.

The money will be refunded in 10 years period, with an annual cost of 3,50 per cent, says a press note.

"With this debt, Sonangol E.P. issued a corporative guarantee in favour to SonangolFinance Limited, raising the power of its indicators of operational, commercial and financial peformance", says the document.

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