Petrobras Extends Maturity of $500 Mln Debt with Citibank

Brazil's state-controlled oil company Petróleo Brasileiro SA extended the maturity of a $500 million debt with Citibank NA as part of a strategy to cut financial expenses, the company said in a statement on Tuesday.

 

Petrobras, as the company is commonly known, said it pre-paid claims expiring in 2017 and 2018 and took a new unsecured loan due in 2022.


(Reporting by Silvio Cascione)