Braskem successfully concluded the funding of E$ 250 million through the FIDC (Credit Right Investment Fund), R$ 227 million of which is in senior quotas and R$ 23 million in subordinate quotas. The demand for senior quotas was 3.8 times the offer, which ended up reducing its spread over the CDI [Interbank Deposit Certificates] by 53%. The total payment term is 18 months, with 6 months grace, taking the average term of the transaction to 12 months.

The Senior Quotas have AAA rating, rating higher than that of the company in function of the structure implemented. The initial remuneration, granted in firm commitment by the banks, was of CDI + 3.0%, its final remuneration, in function of the strong demand, remaining at CDI + 1.40% p.a.

The Mezzanine Subordinate Quotas have BB+ rating, reflecting its greater exposure to eventual defaults of the fund. Its final remuneration remained at CDI + 7.50% p.a., in line with the firm commitment.

The weighed cost of the operation remained at CDI + 1.85% p.a.

Banco do Brasil was the head coordinator of the operation, which also had the participation of Caixa Econômica Federal and of Pactual as coordinators.

This financial operation contributed toward increasing the working capital of the company and maintaining credit to customers, reinforcing Braskem’s continuous capacity to access various credit markets at different liquidity times.