Petrobras Prepays Debt With Banco do Brasil

Instant Max AI

(Petrobras, 5.Oct.2018) — Petrobras prepaid a debt with Banco do Brasil, in the amount of R$2 billion, whose maturity would occur in 2020. Simultaneously, Petrobras has signed with the same institution and the same amount a revolving credit facility, with maturity in October 2025.

The revolving credit facility represents an additional source of liquidity available for the company to be used according to its needs. As such, Petrobras may use its cash for early repayment of current debts, allowing for the reduction of interest rates without loss of liquidity.

It is noteworthy that with this new credit facility, Petrobras has available to withdraw a total amount of R$6 billion hired from Brazilian banks and $4.35 billion hired from international banks under revolving credit facilities.

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