Petrobras plans to reduce its net debt to us $77 billion by the end of this year, volume 12.6% less than that recorded in the third quarter of 2017, of US $88.1 billion, said the oil company in note this Friday (23/02), by announcing an award for the management of its Debt.
The fall is even higher when compared to the third quarter of 2016, when the company's net debt reached US $100.3 billion. From 2015 to September 2017, Petrobras pointed out that there was a 40% reduction in the net debt/profit indicator before interest, taxes, depreciation and amortization (EBITDA), from 5.1 to 3.16 times.
The company said that "proceeds with efforts to reduce its indebtedness", seeking to reach 2.5 times in the net debt/EBITDA indicator in 2018 and converging, up to 2022, "to the world average of the main companies in the sector classified with the degree of Investment, "said the company on the note.
The improvement in the indicators, according to Petrobras, is the result of a broad work done by the company in recent years in search of improving the profile of the debt, reducing costs and extending values due in the market.
The company is also achieving better conditions, extending the debt profile, which came out of an average term of 7.61 years, in the first quarter of 2017, to 8.36 years, in the third quarter and at the same time reduced its average cost of 6.2% To 5.9% in the same period.
"This management allowed the sum of depreciations in the period 2018 to 2020 to reduce R $48.1 billion in 2014 to R $27.6 billion in 2017," said the company.
Petrobras reported this Friday that it received the "corporate Liability management of the Year" award, awarded by the American magazine LatinFinance, for the offer of sale, exchange and repurchase of securities held in September 2017.
In the September operation, Petrobras issued US $2 billion in new securities with salaries in 2025 and 2028. At the same time, he held two offers aiming to exchange five series of old titles, with maturity between 2019 and 2021, for new titles of longer maturity or to repurchase them.
As a result, holders of securities in volumes of about US $6.7 billion repactuaram US $2.6 billion for the new title with maturity in 2025 and US $4.2 billion for the new title due in 2028.
Already by the repurchase offer, holders of securities offered a total volume of just over US $200 million. The net resources of these operations are being used by Petrobras primarily for pre-payment of existing debts. Source: Business SeasonACESSE AS REDES DA PANORAMA OFFSHORE: