Petrobras

Pre-payment of debt and New Financing with China Development Bank

Rio de Janeiro, December 5, 2017 – Petróleo Brasileiro S.A. – Petrobras informs that it has signed yesterday with China Development Bank (CDB) a financing agreement of US$ 5 billion with maturity in 2027.

On the same date, Petrobras also signed a commercial agreement with Unipec Asia Company, establishing a preferential supply of 100 thousand barrels of oil equivalent per day, based on market conditions, for a period of 10 years.

The agreement with CDB provides for the disbursement of half of the amount in December 2017 and the other half in January 2018, when the debt balance of US $ 2.8 billion of the loan contracted in 2009 with the bank will also be prepaid. In addition, the prepayment will result in the early termination of the commercial agreement signed with Unipec Asia Company in 2009, due 2019, for the preferential supply of a total volume of up to 200 thousand barrels of oil equivalent per day.

Petrobras will continue to evaluate debt prepayment and new financing opportunities, in accordance with its liabilities management strategy, in order to improve its amortization profile, taking into account the deleveraging goal set forth in its Business and Management Plan 2017-2021.

Categories: Petrobras

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