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v3.23.3

Finance debt (Tables) | 6 Months Ended
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Jun. 30, 2023
Finance Debt |
Summary of balance by type of finance debt |
Summary of balance by type of finance debt |  |
In Brazil | 06.30.2023 | 12.31.2022
Banking market | 1,304 | 1,285
Capital market | 3,198 | 2,896
Development banks (1) | 735 | 723
Others | 3 | 4
Total | 5,240 | 4,908
Abroad |  |
Banking market | 7,471 | 8,387
Capital market | 14,165 | 14,061
Export credit agency | 2,190 | 2,443
Others | 162 | 155
Total | 23,988 | 25,046
Total finance debt | 29,228 | 29,954
Current | 4,129 | 3,576
Non-current | 25,099 | 26,378
(1) | It includes BNDES, FINAME and FINEP
Schedule of current finance debt |
Schedule of current finance debt |  |
| 06.30.2023 | 12.31.2022
Short-term debt | 9 | −
Current portion of long-term debt | 3,626 | 3,111
Accrued interest on short and long-term debt | 494 | 465
Total | 4,129 | 3,576
Schedule of changes in finance debt |
Schedule of changes in finance debt |  |  |
| In Brazil | Abroad | Total
Balance at December 31, 2022 | 4,907 | 25,047 | 29,954
Proceeds from finance debt | 12 | 50 | 62
Repayment of principal (1) | (208) | (1,237) | (1,445)
Repayment of interest (1) | (144) | (846) | (990)
Accrued interest (2) | 212 | 877 | 1,089
Foreign exchange/ inflation indexation charges | 82 | (173) | (91)
Translation adjustment | 398 | 268 | 666
Modification of contractual cash flows | (17) | − | (17)
Balance at June 30, 2023 | 5,242 | 23,986 | 29,228
| In Brazil | Abroad | Total
Balance at December 31, 2021 | 4,517 | 31,183 | 35,700
Proceeds from finance debt | - | 330 | 330
Repayment of principal (1) | (177) | (5,186) | (5,363)
Repayment of interest (1) | (125) | (790) | (915)
Accrued interest (2) | 201 | 953 | 1,154
Foreign exchange/ inflation indexation charges | 109 | (532) | (423)
Translation adjustment | 293 | 275 | 568
Balance at June 30, 2022 | 4,818 | 26,233 | 31,051
(1) | It includes pre-payments.
(2) | It includes premium and discount over notional amounts, as well as gains and losses by modifications in contractual cash flows.
Schedule of cash flows reconciliation |
Schedule of cash flows reconciliation |  |  |  |  |  |
|  |  | Jan-Jun/2023 |  |  | Jan-Jun/2022
| Proceeds from finance debt | Repayment of principal | Repayment of interest | Proceeds from finance debt | Repayment of principal | Repayment of interest
Changes in finance debt | 62 | (1,445) | (990) | 330 | (5,363) | (915)
Repurchase of debt securities |  | − | − |  | (110) | −
Deposits linked to finance debt (1) |  | (37) | (14) |  | (4) | (1)
Net cash used in financing activities | 62 | (1,482) | (1,004) | 330 | (5,477) | (916)
(1) | Deposits linked to finance debt with China Development Bank, with semiannual settlements in June and December.
Schedule of summarized information on current and non-current finance debt |
Schedule of summarized information on current and non-current finance debt |  |  |  |  |  |  |  |
Maturity in | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 onwards | Total (1) | Fair Value
Financing in U.S.Dollars (US$): | 1,714 | 3,237 | 2,568 | 1,528 | 2,463 | 10,021 | 21,531 | 21,582
Floating rate debt (2) | 1,514 | 2,678 | 1,933 | 1,143 | 1,740 | 652 | 9,660 |
Fixed rate debt | 200 | 559 | 635 | 385 | 723 | 9,369 | 11,871 |
Average interest rate p.a. | 6.6% | 6.8% | 6.1% | 6.3% | 5.9% | 6.6% | 6.6% |
Financing in Brazilian Reais (R$): | 284 | 536 | 238 | 482 | 135 | 3,566 | 5,241 | 5,402
Floating rate debt (3) | 90 | 43 | 146 | 146 | 42 | 1,984 | 2,451 |
Fixed rate debt | 194 | 493 | 92 | 336 | 93 | 1,582 | 2,790 |
Average interest rate p.a. | 6.2% | 7.1% | 6.9% | 6.7% | 7.0% | 6.8% | 6.8% |
Financing in Euro (€): | − | 29 | 296 | − | − | 599 | 924 | 901
Fixed rate debt | − | 29 | 296 | − | − | 599 | 924 |
Average interest rate p.a. | − | 4.7% | 4.7% | − | − | 4.7% | 4.7% |
Financing in Pound Sterling (£): | 35 | 16 | − | 587 | − | 894 | 1,532 | 1,387
Fixed rate debt | 35 | 16 | − | 587 | − | 894 | 1,532 |
Average interest rate p.a. | 6.2% | 6.3% | − | 6.2% | − | 6.5% | 6.3% |
Total as of June 30, 2023 | 2,033 | 3,818 | 3,102 | 2,597 | 2,598 | 15,080 | 29,228 | 29,272
Average interest rate | 6.5% | 6.7% | 6.2% | 6.3% | 6.1% | 6.6% | 6.6% |
Total as of December 31, 2022 | 3,576 | 3,943 | 3,079 | 2,523 | 2,892 | 13,941 | 29,954 | 29,853
Average interest rate | 6.7% | 6.5% | 6.1% | 6.2% | 6.0% | 6.6% | 6.5% |
(1) | The average maturity of outstanding debt as of June 30, 2023 is 12.12 years (12.07 years as of December 31, 2022).
(2) | Operations with variable index + fixed spread.
(3) | Operations with variable index + fixed spread, if applicable.
Schedule of finance debt (undiscounted), including face value and interest payments |
Schedule of finance debt (undiscounted), including face value and interest payments |  |  |  |  |  |  |  |
Maturity | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 and thereafter | 06.30.2023 | 12.31.2022
Principal | 1,525 | 3,831 | 3,199 | 2,675 | 2,670 | 15,921 | 29,821 | 31,703
Interest | 974 | 1,861 | 1,556 | 1,381 | 1,152 | 17,469 | 24,392 | 24,815
Total | 2,499 | 5,692 | 4,755 | 4,056 | 3,822 | 33,390 | 54,213 | 56,518
Schedule of lines of credit |
Schedule of lines of credit |  |  |  |  |  |
|  |  |  |  |  | 06.30.2023
Company | Financial institution | Date | Maturity | Available (Lines of Credit) | Used | Balance
Abroad |  |  |  |  |  |
PGT BV | Syndicate of banks | 12/16/2021 | 11/16/2026 | 5,000 | − | 5,000
PGT BV (1) | Syndicate of banks | 3/27/2019 | 2/27/2026 | 2,050 | − | 2,050
Total |  |  |  | 7,050 | − | 7,050
In Brazil |  |  |  |  |  |
Petrobras | Banco do Brasil | 3/23/2018 | 9/26/2026 | 415 | − | 415
Petrobras | Banco do Brasil | 10/4/2018 | 9/5/2025 | 415 | − | 415
Transpetro | Caixa Econômica Federal | 11/23/2010 | Not defined | 68 | − | 68
Total |  |  |  | 898 | − | 898
(1) | On June 30, 2023, Petrobras reduced part of the Revolving Credit Facility to US$ 2,050 compared to the US$ 3,250 contracted in 2019. Thus, US$ 2,050 will be available for withdrawal from July 1st, 2023, to February 27, 2026.

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