Petrobras settles $5 billion of debt in December

During December, Brazilian state-controlled oil and gas company Petrobras made debt prepayments in the total amount of $5.1 billion.

The prepayments were executed directly or through Petrobras-controlled companies, the company said on Wednesday.

The prepayments were executed with the following creditors: BNDES , Morgan Stanley, Export Development Canada (EDC), Santander, The Bank of Tokyo-Mitsubishi UFJ, Citibank, Kreditanstalt für Wiederaufbau (KFW), JP Morgan, HSBC and Japan Bank for International Cooperation (JBIC).

Of this amount, 72% were expected to be amortized over 2018 and 2019, Petrobras said.

These operations conclude the debt management strategy carried out throughout 2017, which raised $26.1 billion, prepaid $28.2 billion and renegotiated $9.7 billion.

Petrobras concluded it will continue to evaluate new opportunities to lengthen the maturity and reduce the cost of its debt.

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