Petrobras Gets R$1.275bn Advance From Eletrobras

(Petrobras, 2.Aug.2019) — Petrobras informs that today Centrais Elétricas Brasileiras S.A. – Eletrobras settled in advance R$ 1.275 billion of the outstanding balance of the Debt Assumption Agreement signed on December 3, 2018.

With this payment, the remaining outstanding balance of all Debt Assumption Agreements that Petrobras holds against Eletrobras is R$ 9.56 billion, with payments expected by January 30, 2025.

The proceeds will be allocated to the company’s liability management, which aims at improving the amortization profile and reducing the cost of debt, taking into account the deleveraging target provided for in the 2019-2023 Business and Management Plan.

Information regarding receivables from Eletrobras is presented in note 8.4. of the 2018 financial statements and note 5.4. of the 2Q19 results.

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