Braskem finalized successfully the export pre=payment operation, in the value of US$ 725 million, overcoming the company’s initial expectation of collecting US$ 500 million. This operation concluded the lengthening of the bridge-loan taken for acquiring petrochemical assets from the Grupo Ipiranga, in 2007, which was US$ 1.2 billion. In May of this year, the company had already emitted US$ 500 million in Eurobonds.

The conclusion of this financing amidst the international economic uncertainties confirms the market’s approval to the acquisition of Ipiranga Petroquímica and Copesul, and ratifies the perception about the potential creation of value of this acquisition.

The new operation was closed in quite competitive conditions for Braskem, with the cost of Libor + 1.75%/year, final deadline of 5 years, with a grace period of 3 years. For the first 6 months of the operation a Libor adjusted to 5.016%/year was agreed to, reflecting the market’s current condition and the dislocation between the fee practiced in the interbank and the Libor.

"The success of this operation shows the international bank market’s trust in the foundation of the Brazilian economy and Braskem’s, with special attention to the quality of its credit, based on strong leadership in the domestic market, extensive industrial base, consistent capacity for cash generation and comfortable debt profile ", affirms Carlos Fadigas, the company’s vice-president of Finances and Investor Relations.

The operations was structured by Calyon, Citibank and Santander banks and also counted on the adhesion of 16 other financial institutes.

With this operation, Braskem’s debt’s average term comes to 11 years with annual payments under the Company’s estimated cash flow generation capacity.

Braskem’s exports, which totaled US$ 2.2 billion in the past 12 months, will be used partially in the payment of this transaction. Braskem exports to over 40 countries on all continents and counts on market development operations and its own distribution in Europe, the United States, Argentina and Chile.