Petrobras Extends the Term of the Committed Credit Line

Source: www.gulfoilandgas.com 4/30/2021, Location: South America

Petrobras, in continuation to the statement of March 28, 2019, informs that it has extended part of the credit facility (Revolving Credit Facility - RCF) with maturity in March 2024, in the amount of US $ 3.25 billion, for two more years old. Thus, 63% of the total credit line, that is, US $ 2.05 billion, can be withdrawn until 2026. The remainder remains due in the original term.

Petrobras currently has US $ 7.6 billion and R $ 6 billion in committed credit lines to be used. With this extension, the maturities of the lines are now: (i) US $ 4.35 billion and R $ 4.0 billion in 2023; (ii) US $ 1.2 billion in 2024; (iii) R $ 2.0 billion in 2025 and (iv) US $ 2.05 billion in 2026.

The operation allows greater efficiency in cash management, in line with the company's capital optimization strategy.


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