Enauta raises BR$ 1.4 billion in debentures to finance the deployment of new FPSO in the Atlanta field

(PN) The company concluded its first issue of simple debentures, in a restricted public offering. The transaction totaled BR$1.4 billion, of which approximately BR$737 million were First Series debentures and approximately BR$663 million were Second Series debentures, both non-convertible into shares. The funds raised will be used by the company in the development of the Definitive System of the Atlanta field, in the Santos Basin. The amount will also be used to reinforce the oil company’s working capital.

As a reminder, the Atlanta field currently operates with an Early Production System, through FPSO Petrojarl I. For the future, the company intends to inaugurate a Definitive System, with FPSO OSX-2, whose operation should start in mid- 2024. In February of this year, the oil company announced the final investment decision in the Definitive System, in the amount of US$ 1.2 billion.

“We completed our first issue of debentures, gaining access to the resources needed to finance the Atlanta project and improve our capital structure. This is another step towards positioning Enauta as the Brazilian independent with the most balanced portfolio and with the greatest potential for generating value”, evaluated Enauta’s CEO, Décio Oddone. Debentures are debt securities by which a company offers credit rights to investors.

The company detailed that the net proceeds obtained from the first series bonds will be used exclusively for reimbursement and/or future payment of expenses, expenses or debts related to the implementation and development of the Definitive System of the Atlanta Field. The first series papers will have a tax incentive, so that their holders will be entitled to tax benefits. The proceeds from the issuance of the second series will be used exclusively to reinforce working capital, as well as other general corporate purposes.

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