PETROPERÚ implements actions to guarantee its financial sustainability
PETROPERÚ implements actions to guarantee its financial sustainability

After the signing of the contract with the Pricewaterhouse Coopers (PwC) Audit Company to carry out the external audit of the Financial Statements corresponding to fiscal year 2021, in which the delivery date of the short report is established as August 2022, PETROPERÚ is executing the actions corresponding financial statements to request the extension of the term of presentation of the audited Financial Statements 2021 as detailed below:

  1. With the bondholders, through a consent solicitation process. To this end, since May 5, we have been working with the selected banks, who are managing the request with the PETROPERÚ work team and legal advisors, which will allow the conclusion of this process as soon as possible. It should be remembered that PETROPERÚ made bond issues in the international debt markets, in 2017 for US$2,000 million (maturity 2032 and 2047) and in 2021 a reopening of the bonds maturing in 2047 for an additional USD 1 billion.
  2. With the Spanish Export Credit Agency (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 for the year 2021.

    This management is being carried out through Deutsche Bank, the bank administering the contract, the same bank that has already reached the amendment to CESCE and the banks. Likewise, the PETROPERÚ team will support the amendment before the aforementioned entities for its subsequent approval.

    As recalled, in 2017 PETROPERÚ received the funds from the disbursement of long-term credit guaranteed by CESCE, a financial facility for an amount of USD 1.3 billion in which a total of thirteen international banks participated.
  3. It should be noted that the payment of the financing made for the construction of the new Talara Refinery through the indicated instruments, will be assumed with PETROPERÚ's own resources.
  4. These actions are framed in the contractual terms and conditions with said creditors, compliance with which contributes to the financial sustainability of the company.
  5. Likewise, they are part of the action plan of the new Administration to recover the confidence of the stakeholders, which will make it possible to continue effectively stabilizing PETROPERÚ's liquidity.