The state oil company Petroperu reported this Monday that its creditors accepted the amendment to extend the deadline for submitting its audited Financial Statements (EEFF) until September 30, 2022.
This measure came as a result of the steps taken by the state company, in the context of the meetings in Madrid (Spain) from May 17 to 19, the entities of the Spanish Government and the bank union, which approved the request for amendment to the Credit Agreement, in order to extend the deadline for submitting the audited Financial Statements corresponding to the fiscal year ended December 31, 2021.
He indicated that the management was carried out through Deutsche Bank, administrative agent of the contract.
According to Petroperú, this achievement will allow it to continue in the strong recovery process for its financial sustainability.
In the meetings with the Spanish Export Credit Agency (CESCE), the Spanish Ministry of Industry, Commerce and Tourism and the banks, the representatives of Petroperú explained the company’s situation and the strategies of the new administration to recover the trust of its stakeholders, as a context for the request for the new deadline for the presentation of the Financial Statements 2021.
As it is recalled, in 2018, the Peruvian state-owned company received the funds from the disbursement of a long-term loan for an amount of US$ 1,300 million guaranteed by CESCE (Credit Agreement), in whose financing a total of thirteen banks participated. international.
Likewise, on Monday, May 23, Petroperú initiated a request addressed to the holders of its international bonds in order for them to give their consent to the amendment of the instruments under which the bonds were issued, so that the term for the presentation of the EEFF 2021 is also extended until September 30, 2022.
The oil company pointed out that these actions with the creditors were managed after the signing of the contract with PricewaterhouseCoopers (PwC) for the audit of the EEFF 2021, whose short report is expected to be ready by the end of August 2022.
“The steps taken are part of the action plan of the new administration to regain market confidence, which will make it possible to continue effectively stabilizing Petroperú’s financial situation”, indicated the Peruvian company.
