The Brazilian energy giant Petrobras $PETR3 (-2,65 %)
$PETR4 (-1,83 %)
has signed two credits and a memorandum of understanding with Banco do Brasil (BB) to finance and promote initiatives related to sustainability and energy transition.
The total value of the two bonds maturing in 2032 amounts to R$6.5 billion and around USD1.1 billion respectively. The duo also announced the renewal of the revolving credit facility of R$2 billion, or around USD 350 million, which was originally due to mature in 2026 and has now been extended to 2030.
"This initiative underlines our commitment to the energy transition and the preservation of biodiversity and contributes to the country's development in a responsible manner and in line with global sustainability challenges," emphasized Magda Chambriard, CEO of Petrobras.
The partners committed to long-term strategic planning and to using the funds provided to promote biodiversity, biofuels, renewable energies, efficiency and the energy transition. An external consultancy firm is to assess compliance with these commitments every year.
"We work not only by granting sustainable loans, but also by providing advice and knowledge transfer that enables our clients to drive forward projects that benefit companies, people and the environment," says BB President Tarciana Medeiros.