Petrobras Prepays Partial Debt to Petros

Source: www.gulfoilandgas.com 2/22/2022, Location: South America

Petrobras informs that its Board of Directors approved on this date the partial prepayment of the Pre-70 Term of Financial Commitment (TFC Pre-70) and Pension Difference Term of Financial Commitment (TCF Pension Difference), celebrated with the Fundação Petrobras de Seguridade Social (Petros), in the amount of R$ 6.882 billion, expected to take place on February 25, 2022.

The TFC Pre-70 and TCF Pension Difference were signed in 2008 and are part of the Reciprocal Obligations Agreement (ROA), signed with Petros and several trade unions in 2006.

This pre-payment is in line with the provisions agreed upon in the mentioned contractual instruments, as well as with the company's liability management process, which seeks to reduce interest expenses and the amount of real guarantees, besides contributing to improve the liquidity of the plans.

It is worth mentioning that the TFC Pre-70 and TFC Pension Difference are commitments already registered in Petrobras' Financial Statements, composing the register of the actuarial liability value, as explained in note "13. Post-employment benefits" of the Financial Statements for the period ending September 30, 2021.


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