Petrobras signs first sustainability-linked loan

Petrobras signs first sustainability-linked loan

Corporate & Sovereign Strategy Loans Brazil Sustainability-Linked Capital Markets Oil Gas ESG Green Finance

Brazil's state-owned oil company Petrobras said Monday that it signed its first sustainability-linked loan for $1.25 billion, tying the interest rates to targets for lowering emissions. Petrobras decided to take out the five-year loan from Bank of China, MUFG and Scotiabank amid "a challenging capital market environment this year," CFO Rodrigo Araújo told LatinFinance. "This is an evolution in our sustainability agenda," added Rafael Chaves, sustainability director at Petrobras. "It is important

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