Petrobras prepays committed credit lines

Petrobras announced, on the night of Last Monday (27), that it carried out the partial prepayment of committed credit lines in the amount of 3.5 billion dollars. Because of this, resources will be available for new withdrawals in case of need.

At the end of March, the state-owned company had requested disbursement from banks of $8 billion of its revolving credit lines, in a move that sought to secure liquidity for the company amid the coronavirus pandemic and a price shock in the oil market.

In the statement, Petrobras' Chief Financial and Investor Relations Officer Andrea Almeida commented on the case: "The withdrawal of US$ 8 billion from the credit lines committed was important to face this moment of increased volatility. Our ability to react with the adoption of resilience measures proved effective in getting through the crisis. We will continue working to make Petrobras an even more resilient company capable of generating more value for its shareholders."


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