Sete Brasil close to obtaining loan relief, Bradesco CEO says
SAO PAULO, April 6 (Reuters) - A group of commercial banks and state-controlled oil producer Petróleo Brasileiro SA are close to extending loan refinancing to ailing oil rig producer Sete Brasil Participações SA, the top executive of Banco Bradesco SA said on Monday.
Currently the discussions are focusing on the size, maturity and scope of a new loan to Sete Brasil, Luiz Carlos Trabuco, Bradesco's chief executive officer, said at a bank event in São Paulo. Rio de Janeiro-based Sete Brasil faces 11 billion reais ($3.6 billion) in debt repayments this month.
(Reporting by Aluisio Alves; Writing by Guillermo Parra-Bernal; Editing by Chris Reese)
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