Petrobras Prepays Debt with Pension Fund

web AdobeStock_170798457.jpg

Brazil's state-run oil company Petroleo Brasileiro SA said on Monday it had prepaid a 2.7 billion reais ($678 million) debt with its employees' pension fund Petros that was due in 2028, according to a securities filing.

Petrobras, as the company is known, said the debt with Petros is related to hyperinflation losses the fund incurred in the 1980s. "The prepayment contributes to improve liquidity of the fund and is aligned with the company's liabilities management strategy", it said in the filing.

($1 = 3.9795 reais)

(Reporting by Gabriela Mello; editing by Jonathan Oatis)

Floating Production Week delivers unrivaled overview, insight and analysis to the Offshore Floating Production Systems and Technology market

Floating Liquefaction and Regasification Report And Online Database

  • Annual reports -- Our new 150-page report is the first professional effort to systematically look at the universe of FLNG and FSRU projects in the planning stage – and categorize the likelihood of each making the development investment hurdle.
  • Online database -- The online database is updated every day – with information direct from primary sources. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database.
  • Customer support -- We are available to assist with technical questions about information in the database and reports -- and assist with any questions about using the database search tools.

Here's what you get!

Request Free Trial