Braskem shares surge as Petrobras expands credit line to R$ 2.35 billion

Braskem shares rose significantly following an agreement with Petrobras to expand a credit line from R$ 350 million to R$ 2.35 billion. The funds are designated for purchasing raw materials supplied by Petrobras, with the contract valid until the end of 2026.

The agreement includes security mechanisms to mitigate default risk, such as the fiduciary assignment of Braskem’s customer receivables, estimated at approximately R$ 1 billion per month. To access the credit, Braskem must establish linked accounts and maintain a minimum balance of R$ 150 million. Petrobras retains the right to suspend the limit if minimum monthly receivable flows are not met.

This financial boost comes as Braskem seeks extrajudicial recovery in São Paulo to restructure approximately US$ 10.9 billion in unsecured financial debt and facilitate negotiations with creditors.