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Petrobras To Keep Debt Range Between $55B To $65B

BRAZIL
  • Comments from Petrobras CFO:
    • Petrobras has no plans to issue dollar bonds in short term
    • Petrobras debt expected to grow in 2023 due to new FPSOS
    • Petrobras to keep debt range between $55b to $65b
    • Petrobras has no short-term plans to offer new debt tender (BBG)
  • Separately, earlier it was announced that Petrobras hires $1.25b sustainability linked credit line.
    • The sustainability-linked loan will expire in July 2027, Petrobras said in a filing.
    • Operation with Bank of China, MUFG and The Bank of Nova Scotia has incentive mechanisms for Petrobras to meet its sustainability commitments.
    • It is the first time that Petrobras has contracted financing associated with its sustainability goals, according to the company.
    • Petrobras says that the new line expands its liability management strategy through the diversification of financing models. (BBG)
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