News

Braskem announces the issuance of subordinated notes

NOTICE TO THE MARKET

São Paulo, July 20, 2020 -  BRASKEM S.A. (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) ("Braskem" or "Company") hereby announces to its shareholders and the market on this date the pricing of US$600 million subordinated notes, issued by its wholly-owned subsidiary Braskem Netherlands Finance B.V., maturing in 2081 and with coupon of 8.5% per annum, guaranteed by Braskem. The Company intends to use the net proceeds from the sale of the notes for debt prepayment and for general corporate purposes.

This is the first hybrid debt instrument issued by a Brazilian company with 50% equity treatment by Standard & Poor's and Fitch Ratings, and reinforces the Company's commitment to continue implementing measures to reduce its corporate leverage  to return to be assigned as an investment grade company.

 

For more information, contact Braskem's Investor Relations Department by calling +55 (11) 3576-9531 or sending an e-mail to braskem-ri@braskem.com.br.