for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Brazil's Petrobras pays off $2 billion revolving credit line

A man walks in front of the headquarters of Petroleo Brasileiro S.A. (Petrobas) in Rio de Janeiro, Brazil March 9, 2020. REUTERS/Sergio Moraes

BRASILIA (Reuters) - Brazilian state-controlled oil producer Petroleo Brasileiro S.A. PETR4.SA said on Monday that it has fully repaid the remaining $2 billion balance on its dollar-denominated revolving credit line, which will now allow it to access new facilities.

Petrobras can now access lines of up to $7.6 billion, and 4 billion reais ($727 million), the company said in a securities filing, adding that this will allow it “greater efficiency in cash management”.

Reporting by Jamie McGeever; Editing by Toby Chopra

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up