Petrobras has sold $1.25 billion of reopened global 2019 bonds at a lower yield of 6.875%, Reuters reports. The Brazilian oil major had sold $1.5 billion of the same bonds on Feb. 4, at a yield of 8.125%.

Petrobras hired JP Morgan Chase, HSBC Holdings, Banco Santander and Citigroup to manage the sale. It plans to use proceeds from the reopening to repay part of a $6.5 billion, two-year bridge loan secured from six banks.

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