Brazil’s Petrobras says it signed a $1.25 billion sustainability loan
Petrobras informs that it signed, on 07/08/22, a credit line with sustainability commitments (Sustainability-Linked Loan – SLL) in the amount of US$ 1.25 billion and maturity in July 2027.
The operation was signed with the banks Bank of China, MUFG and The Bank of Nova Scotia, with competitive costs in comparison to market references, and also considering incentive mechanisms for the achievement of sustainability commitments, based on corporate KPIs of GHG intensity in E&P, GHG
intensity in refining and methane intensity in E&P.
See related article: Shell invests $40 million in carbon credit projects in Brazil
This is the first time Petrobras has contracted financing associated with its corporate sustainability targets, which reinforces the company’s focus on the decarbonization of its operations and expands the liability management strategy by diversifying financing models, in line with the sustainability requirements that are increasingly present in the debt markets.
Source: Petrobras
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