BELIZE CITY, BELIZE (Aaron Simonsky, Energy Analytics Institute, 20.Feb.2025) — Petrobras signed 3 agreements with Banco do Brasil including export notes, a revolving credit facility and a Letter of Intent (LOI).
Petrobras contracted 2 Export Credit Notes (ECN) with sustainability commitments, 1 valued at R$3.5bn and the other at R$3bn, both maturing in 2032, Petrobras announced 20 Feb. 2025 in an official statement.
Additionally, Petrobras renewed a Revolving Credit Facility (RCF) worth R$2bn, with the original maturity in 2026 now extended to 2030.
Lastly, Petrobras signed a LOI aimed at technical cooperation, at no cost to the parties, for the development of projects focused on decarbonization and biodiversity preservation.
Export notes
The ECN contracts include sustainability commitments, through which Petrobras declares its commitment to its current long-term strategic planning and will endeavor to apply the allocated resources to actions promoting biodiversity, biofuels, renewable energies, efficiency, and energy transition.
The evaluation of compliance with these commitments will be conducted annually, based on indicators presented in the company’s Sustainability Report, through an external consultancy, Petrobras said.
Revolving facility
The RCF is important for optimizing Petrobras’ financial management, allowing for the maintenance of an optimal cash volume, ensuring adequate liquidity levels, which results in reduced carrying costs, the company said.
These operations align with Petrobras’ liability management strategy with aims to improve the company’s debt profile and reduce costs.
Letter of Intent
The signing of the LOI with Banco do Brasil will allow Petrobras to expand its support alternatives for energy transition initiatives outlined in its strategic business plan.
Among the goals of the agreement, key highlights include technical cooperation on initiatives related to the concept of “green finance,” focusing on sustainability, actions for climate change prevention, and biodiversity protection, Petrobras said.
Additionally, the agreement will encourage the joint identification and evaluation of projects, financial structures, and financing related to decarbonization and biodiversity preservation.
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By Aaron Simonsky reporting from Belize City. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
