January 18, 2019 / 3:56 PM / 3 months ago

Brazil's Petrobras to stop taking subsidized state bank loans-CEO

RIO DE JANEIRO, Jan 18 (Reuters) - Petroleo Brasileiro SA plans to stop taking loans from public banks at “special rates” to finance projects, the Brazilian state-run oil company’s chief executive Roberto Castello Branco said on Friday through a spokesperson.

Branco’s remarks come as the government released a list of the 50 largest borrowers at state-controlled development bank BNDES, which shows Petrobras, as the company is known, as the leading recipient of credit lines and equity capital disbursed by the bank. (Reporting by Rodrigo Viga Gaier Wrinting by Ana Mano; Editing by Christian Plumb)

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