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29

Citi: Why China Is the Future of Emerging Market Debt Refinancing

By Tony Seruga

China is offering lifelines to cash-strapped countries that supply natural resources.

Who will save the world’s overindebted, cash-strapped, earnings-challenged entities?

China, apparently.

Last week, Petroleo Brasileiro SA got a lifeline in the form of a $10 billion loan from China Development Bank Corp. Brazil’s junk-rated, state-owned oil producer has been struggling to refinance its significant debt load in the face of ultra-low oil prices and skittish investors…

Citi: Why China Is the Future of Emerging Market Debt Refinancing

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