The term sheet was signed by Petrobras president Aldemir Bendine and the CDB president Zheng Zhijie in Rio de Janeiro on Friday.
Drafts of the financing contracts "are already being negotiated", Petrobras said. The drafts "include the implementation of a trade agreement to supply oil to Chinese companies".
Petrobras said the terms are similar to contracts signed by Petrobras and CDB in 2009.
