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Petrobras Boosts Braskem Commercial Credit Limit to R$2.35 Billion

Petrobras logoPetrobras
Sig3.05Sen+1.30Env0.00Soc0.00Gov+0.60
Braskem logoBraskem
Sig3.20Sen+1.60Env0.00Soc0.00Gov-0.80

Petrobras agreed with Braskem to raise the petrochemical firm’s commercial credit limit for raw-material purchases from R$350 million to R$2.35 billion. The deal runs through Dec. 31, covering invoices issued during that period and backed by fiduciary assignment of receivables of about R$1 billion monthly. It was signed the same day Braskem filed for out-of-court reorganization in São Paulo; Petrobras is a state-owned shareholder and its largest feedstock supplier.

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