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)
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