PETROPERU obtains loan with CESCE guarantee for the financing of the PMRT

PETROPERU received today the funds of the disbursement of the medium term credit with the guarantee of the Spanish Export Credit Agency (CESCE).

It is a financial facility for a maximum amount of US $ 1,300 million in which a total of thirteen (13) international banks have participated and which has the CESCE coverage for the financing of the PMRT.

This medium-term credit has a total annual financial cost of 3.96% and will have a repayment term of 10 years that will start 6 months after the start of operations of the Talara Refinery, estimated for 2021.

With this disbursement, approximately 85% of the financing required for the PMRT is reached and will cover the financial resources needed for the project until the first quarter of 2020.

As can be remembered, in June 2017, PETROPERU made a first and successful bond placement for US $ 2 billion in the international debt markets; in two placements of US $ 1,000 million for a 15-year term and US $ 1,000 million for a 30-year term, in both cases with a single payment upon expiration.

It should be noted that both financial operations have been supported by PETROPERU's own assets.

In the course of 2019, alternatives will be evaluated to complete the pending financing (approximately US $ 600 million), as well as market conditions to define the appropriate moment of execution.

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