Rio de Janeiro, November 17, 2017 – Petróleo Brasileiro S.A. – Petrobras reports that it has raised yesterday funds with a syndicate of commercial banks led by Standard Chartered, in the amount of US$ 1 billion.
In addition to Standard Chartered, the syndicate consists of China Construction Bank, ABN AMRO Bank, Industrial and Commercial Bank of China, Banco Latinoamericano de Exportações and Commerzbank. The funding is guaranteed by P-56 platform.
Simultaneously, Petrobras made the prepayment of a funding with Standard Chartered, in the amount of US$ 500 million, which would mature in December 2018. The remaining funds will be used to prepay existing debts.
The company will continue to evaluate new prepayment and new financing opportunities, in accordance with its liabilities management strategy, which aims to improve the amortization profile, taking into account the deleveraging target set forth in its 2017-2021 Business and Management Plan.