Petrobras Rolls Short Debt to 2011

Petrobras Rolls Short Debt to 2011

Brazil

Petrobras has pushed out 2009 debt with 2 Brazilian banks until 2011. Brazil’s state-controlled oil producer has extended to 2011 export credit loans of BRL400m and BRL1.6bn taken out in April that were due April 2009. The loans pay DI plus 102%, according to a spokeswoman, who declines to state the new price, saying only that new rates are below 6%. Separately, Petrobras paid down a BRL2.0bn credit facility taken out with Caixa in October, and at the same time extended it by an additional BRL

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