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3R Petroleum's Luxembourg subsidiary has begun issuing up to US$500 million in debt, offering personal guarantees to institutional investors and non-US citizens.
3R Petroleum (RRRP3) announced that its subsidiary in Luxembourg has started work on issuing up to US$500 million in debt. The information was released this Monday (22), in a statement to the market. The issue aims to raise resources that will be used to refinance the current debt held by 3R, which was contracted as part of the financing of the acquisition of Polo Potiguar. According to the company, the Notes will have personal guarantees — a type of very personal guarantee — provided by the company and certain subsidiaries, in addition to real guarantees to be constituted on certain receivables, shares and rights arising from concessions of certain subsidiaries of the company. The securities will be offered exclusively in the international market, to qualified institutional investors, in accordance with the United States securities laws and subsequent amendments, and to non-US citizens in international operations outside the United States (https://clickpetroleoegas.com. br/seatrium-guarante-refinanciamento-de-mais-de-us-303-milhoes-apos-delivery-do-fpso-to-modec/).
3R Petroleum (RRRP3) announces subsidiary debt refinancing
3R Petroleum (RRRP3) reported today that it has successfully completed the refinancing of its subsidiary's debt, ensuring continuity of operations and strengthening the company's financial position. The operation, which had the support of institutional investors, resulted in the emissão of personal guarantees that made debt restructuring possible, providing greater security to creditors and allowing ongoing projects to continue.
This refinancing represents an important milestone for 3R Petroleum, which has been actively seeking financial solutions to optimize its capital structure and reduce costs. The operation also enabled the diversification of the investor base, attracting non-American citizens interested in the company's growth opportunities.
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3R Petroleum (RRRP3) reiterated its commitment to responsible management of Results and highlighted the strategic importance of refinancing for the sustainability of its activities. The company highlighted that the operation will contribute to strengthening its competitive position in the market and to the execution of expansion plans. 3R Petroleum thanked all parties involved in the operation for their commitment and reaffirmed its commitment to transparency and efficiency in financial management.
Source: moneytimes
