Brazil’s Petrobras pays off $2 billion revolving credit line

BRASILIA (Reuters) – Brazilian state-controlled oil producer Petroleo Brasileiro S.A. said on Monday that it has fully repaid the remaining $2 billion balance on its dollar-denominated revolving credit line, which will now allow it to access new facilities.

Petrobras can now access lines of up to $7.6 billion, and 4 billion reais ($727 million), the company said in a securities filing, adding that this will allow it “greater efficiency in cash management”.

(Reporting by Jamie McGeever; Editing by Toby Chopra)