Petrobras pays off part of loan

Petrobras pays off part of loan

M&A Economy & Policy Debt Energy Gas Brazil Colombia

Brazil's state-owned oil company Petrobras said it has paid back $3.5 billion of the $8 billion in revolving credit lines that it withdrew in March to cover short-term liquidity needs in the the COVID-19 pandemic. The draw down allowed the company to get through the crisis, Petrobras CFO Andrea Almeida said in a securities filing on Monday, and the money is now available for new withdrawals if necessary. Petrobras also said on Monday that it sent out teaser documents for the sale of its stake in

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