Brazil’s Petrobras prepays $900 million of bank loans due 2023, 2022

By Susanna Moon

Chicago, May 11 – Petroleo Brasileiro SA prepaid $900 million of bank loans, according to a 6-K filing with the Securities and Exchange Commission.

Specifically, Petrobras paid $300 million of loans due January 2023 with Banco Safra on April 26 and $600 million loans due September 2022 with JPMorgan Bank on May 10.

The company “will continue to evaluate new prepayment opportunities, according to its liability management strategy, taking into account its deleveraging target set forth in its 2018-2022 business and management plan,” the filing noted

Petrobras is a Rio de Janeiro-based oil and gas company.

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