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Petrobras signs $4.35B credit facility with bank syndicate

Published 03/08/2018, 02:52 PM
© Reuters.  Petrobras signs $4.35B credit facility with bank syndicate
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  • Petrobras (PBR -0.4%) has signed a new revolving credit facility worth $4.35B with a syndicate of 17 banks, potentially creating a new alternative financing resource to fund its business during 2018-22.
  • The syndicate includes such major banking names as BNP Paribas (PA:BNPP), Credit Agricole (PA:CAGR), Bank of America (NYSE:BAC), Bank of China, JPMorgan Chase (NYSE:JPM), Morgan Stanley, Deutsche Bank (DE:DBKGn) and Standard Chartered (LON:STAN).
  • “This contract creates yet another cash availability alternative for the company to use according to its needs," the company says. "As such, Petrobras may use its cash for early repayment of current debts, allowing for the reduction of the carrying cost of debt."
  • Now read: The Reason Behind Legacy Reserves' Rapid Ascent


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