for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Healthcare

Brazil's Braskem to cut Capex in 2020 by at least 10% -CFO

SAO PAULO, April 8 (Reuters) - Brazilian petrochemical company Braskem SA expects to cut its Capex prediction for this year, of 3 billion reais ($578 million)is by at least 10%, chief financial officer Pedro Freitas said in a webcast on Wednesday.

Braskem has drawn $1 billion in revolving credit lines as an insurance against the coronavirus crisis, the CFO said. The company’s cash position was $3.3 billion in late 2019 and that the company issued additional $2.25 billion in bonds maturing in 2030 and 2050. ($1 = 5.1930 reais) (Reporting by Alberto Alerigi; Writing by Tatiana Bautzer; Editing by David Gregorio)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up