Brazil’s Petrobras prepays $975 million debt due 2022 with three banks

By Susanna Moon

Chicago, Aug. 6 – Petroleo Brasileiro SA prepaid $975 million of debt as follows:

• $325 million of debt due 2022 with Bank of America on July 25

• $150 million of debt due 2022 with Safra on July 31; and

• $500 million of debt due 2022 with MUFG on Aug. 3.

“The transactions are in line with the company’s liability management strategy, which aims to improve its amortization profile and cost of debt taking into consideration the deleveraging goals under its 2018-2022 business and management plan,” according to an 8-K filing with the Securities and Exchange Commission.

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

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