Actions to guarantee the financial sustainability of Petroperú are still underway

After signing the contract with Sociedad de Auditoría Gaveglio, Aparicio y Asociados Sociedad Civil de Responsabilidad Limitada, to carry out the external audit of the financial statements corresponding to fiscal year 2022, Petroperú has executed the corresponding financial actions to request the extension of the presentation term.

Within this framework, it has carried out the corresponding management with the bondholders through a consent request process - Consent solicitation. To this end, we have been working with the selected banks to achieve such consent (HSBC, JP Morgan, Citibank and Santander). Today, the aforementioned process has successfully culminated with a broad and significant acceptance by the investment community. It should be remembered that Petroperú made bond issues in the international debt markets in 2017 and 2021.

Similarly, with the Agencia Española de Crédito a la Exportación (CESCE), through a contract amendment process, which consists of requesting CESCE and the banks that hold the credit to reschedule the presentation of the audited financial statements. of the financial year 2022. This management has also been successfully completed through Deutsche Bank, the contract administrator bank.

As recalled, in 2017, Petroperú received the funds from the disbursement of a long-term credit guaranteed by CESCE, a financial facility for an amount of US$1.3 billion in which a total of thirteen international banks participated.

It should be noted that Petroperú resorted to both instruments to finance the New Talara Refinery, loans that will be paid with the higher refining margin that will be generated when the refinery is in full operation.

These actions are framed in the contractual terms and conditions with said creditors, compliance with which contributes to the financial sustainability of the company. Likewise, the result of these shows that the trust of its stakeholders is being recovered, which contributes to the financial sustainability of Petroperú.