Brazil's Petrobras covers 2015 financial needs with loans, sale
BRASILIA, April 17 (Reuters) - Brazilian state-run oil company Petroleo Brasileiro SA said on Friday it has approved a series of credit and sale operations to cover its financial needs for this year.
Petrobras, as the company is known, approved a letter of credit for export from Banco do Brasil for 4.5 billion reais ($1.48 billion) through its subsidiary BR Distribuidora.
The company approved a standby credit limit of 2 billion reais with Caixa Economica Federal for up to 5 years, and also agreed to a pre-approved financing limit of 3 billion reais with Banco Bradesco SA.
Petrobras also signed an agreement with bank Standard Chartered PLC to sell $3 billion worth of oil platforms with a repurchase option. ($1 = 3.0394 Brazilian reais) (Reporting by Alonso Soto and Anthony Boadle; Editing by Alan Crosby)
© Thomson Reuters 2016 All rights reserved.