Braskem, Latin America´s leading petrochemical company, has announced the conclusion of the negotiations to raise up to US$ 1.2 billion through a bridge loan aiming to fund the acquisition of Ipiranga´s petrochemical businesses, on a partnership with Petrobras, and the future closure of Copesul´s capital, two assets of major importance for the Braskem growth strategy, generating value and consolidating the sector in the South of the country.

Carlos Fadigas, Financial and Investor Relations vice-president, said the operation has been highly competitive for Braskem. "The positive market appraisal regarding the new company size, the synergies to be captured and the strategic benefits generated with the Ipiranga acquisition, allied to the confidence in Braskem´s financial robustness, have been fundamental to the operation´s success", stresses Fadigas. According to the executive, fundraising has been carried out on a very favorable moment for the market, with excellent liquidity, ensuring attractive conditions and financial flexibility to Braskem.

With a two year term, the negotiated credit line has an interest of 0.35% above Libor on the first year and 0.55% on the second, which makes this fundraising financial operation the most competitive ever in the Country. The transaction counted on the structuring and leadership of ABN AMRO Real, Calyon and Citibank banks.

Braskem hopes to conclude the refinancing of the bridge loan on a timely manner, always focusing on the reduction of the company´s capital cost and on maintaining a debt profile adjusted to its cash flow. The Ipiranga Petrochemical acquisition practically does not change the company´s debt/EBITDA ratio, which measures its financial leverage ratio, which today is 2.7 times.