Petrobras settles $1 billion debt, secures new financing

Petrobras had signed with Banco Santander an agreement for a new line of credit worth $750 million, due October 2028, thanks to have prepaid a debt of $1 billion, which was due in 2023. These transactions are part of the Brazilian company’s liability management strategy, targeted at improve the cost of debt. In the same stream, Vitol-led consortium acquired a Petrobras’ offshore fields in Nigeria for $1.407 billion and will also buy a 50 percent share in Petrobras Oil and Gas B.V.