Petrobras Pre-payment of debt and new financing with Banco Santander

Rio de Janeiro, October 31, 2018 – Petróleo Brasileiro SA – Petrobras reports that today it prepaid a debt with Banco Santander in the amount of US$ 1 billion, due 2023. Simultaneously, it signed with the same institution a new line of credit worth US$ 750 million, due October 2028 and with more competitive financial costs.

These transactions are in line with the company’s liability management strategy, which aims to improve the amortization profile and the cost of debt, taking into account the deleveraging target set forth in its 2018-2022 Business and Management Plan.

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