Ultrapar’s indebtedness breakdown as of September 30, 2025 can be found in the financial spreadsheets.
Debt breakdown as of September 30, 2025:
| In millions of reais | ||
|---|---|---|
| Cash and cash equivalents | 6,668 | - |
| Up to 1 year | 2,705 | 16% |
| From 1 to 2 years | 5,762 | 33% |
| From 2 to 3 years | 2,734 | 16% |
| From 3 to 4 years | 2,327 | 13% |
| From 4 to 5 years | 491 | 3% |
| More than 5 years | 3,257 | 19% |
| Total | 17,276 | 100% |
Debt securities issuance
Debt securities issued by Ultrapar and its subsidiaries are
| Instrument Description | Issuer | Interest rate | Principal | Issuance date | Maturity | Interest payments | Documents |
|---|---|---|---|---|---|---|---|
| 2nd issuance of debentures (Companhia Ultragaz) (1nd Tranche) | Companhia Ultragaz S.A. | CDI + 0.65% | R$ 455.0 million | July 25, 2024 | July 25, 2027 | biannual | Indenture of the 2nd issuance of debentures |
| 2nd issuance of debentures (Companhia Ultragaz) (2nd Tranche) | Companhia Ultragaz S.A. | CDI + 0.90% | R$ 245.0 million | July 25, 2024 | July, 25 2027 | biannual | 1st amendment to the issuance indenture |
| 13th issuance of debentures (Ipiranga) – Securitized through Certificates of Agribusiness Receivables Agronegócio (CRA) (1nd Tranche) | Ipiranga Produtos de Petróleo SA | 11.17% | R$ 200.0 million | July 15, 2023 | July 15, 2027 | quarterly | Indenture of the 13th issuance of debentures |
| 13th issuance of debentures (Ipiranga) – Securitized through Certificates of Agribusiness Receivables Agronegócio (CRA) (2nd Tranche) | Ipiranga Produtos de Petróleo SA | CDI + 0.70% | R$ 200.0 million | July 15, 2023 | July 15, 2027 | quarterly | 1st amendment to the issuance indenture Prospect |
| 12th issuance of debentures (Ipiranga) – Securitized through Certificates of Agribusiness Receivables Agronegócio (CRA) (1nd Tranche) | Ipiranga Produtos de Petróleo SA | 11.17% | R$ 325.8 million | July 15, 2023 | July 15, 2027 | quarterly | Indenture of the 12th issuance of debentures |
| 12th issuance of debentures (Ipiranga) – Securitized through Certificates of Agribusiness Receivables Agronegócio (CRA) (2nd Tranche) | Ipiranga Produtos de Petróleo SA | CDI + 0.70% | R$ 292.2 million | June 15, 2023 | June 15, 2027 | quarterly | 1st amendment to the issuance indenture |
| 11th issuance of debentures (Ipiranga) – Securitized through Certificates of Agribusiness Receivables (CRA) | Ipiranga Produtos de Petróleo S.A. | IPCA + 6.0053% | R$ 1.0 billion | June 15, 2022 | June 11, 2032 | biannual | Indenture of the 11th issuance of debentures |
| 2nd issuance of debentures (Tequimar) | Ultracargo Logística S.A. | IPCA + 4.37% | R$ 100.0 million | March 15, 2021 | March 15, 2028 | biannual | Trustee’s annual report 2021 |
| 1st issuance of debentures (Tequimar Vila do Conde) | Tequimar Vila do Conde Logística Portuária S.A. | IPCA + 4.04% | R$ 360.0 million | March 15, 2021 | March 15, 2028 | biannual | Trustee’s annual report 2021 |
| Issuance of notes (retap of notes issued in 2019) | Ultrapar International S.A. | 5.25% | US$ 350.0 million | July 20, 2020 | June 6, 2029 | biannual | – |
| 1st issuance of debentures (Tequimar) | Ultracargo Logística S.A. | 6.47% | R$ 90.0 million | November 19, 2019 | November 19, 2024 | biannual | Indenture of the 1st issuance of Tequimar’s debentures |
| Issuance of notes | Ultrapar International S.A. | 5.25% | US$ 500.0 million | June 6, 2019 | June 6, 2029 | biannual | – |
| 8th issuance of debentures (Ipiranga) – Securitized through Certificates of Agribusiness Receivables (CRA) (1nd Tranche) | Ipiranga Produtos de Petróleo S.A. | 97.50% CDI | R$ 660.0 million | December 15, 2018 | December 18, 2023 | biannual | Trustee’s annual report |
| 8th issuance of debentures (Ipiranga) – Securitized through Certificates of Agribusiness Receivables (CRA) (2nd Tranche) | Ipiranga Produtos de Petróleo S.A. | IPCA + 4.61% | R$ 240.0 million | December 15, 2018 | December 18, 2025 | annual | Indenture of the 8th issuance of debentures |
| 6th issuance of debentures (Ultrapar) | Ultrapar Participações S.A. | 105.25% of CDI | R$ 1.725 million | March 5, 2018 | March 5, 2023 | biannual | Trustee’s annual report 2018 |
| 7th issuance of debentures (Ipiranga) – Securitized through Certificates of Agribusiness Receivables (CRA) (1nd Tranche) | Ipiranga Produtos de Petróleo S.A. | 95.00% CDI | R$ 730.4 million | October 25, 2017 | October 24, 2022 | biannual | Trustee’s annual report |
| 7th issuance of debentures (Ipiranga) – Securitized through Certificates of Agribusiness Receivables (CRA) (2nd Tranche) | Ipiranga Produtos de Petróleo S.A. | IPCA + 4.34% | R$ 213.7 million | October 25, 2017 | October 24, 2024 | annual | Indenture of 7th issuance of debentures |
| 6ª issuance of debentures (Ipiranga) | Ipiranga Produtos de Petróleo SA | 105.00% of CDI | R$ 1.5 billion | June 28, 2017 | June 28, 2022 | annual, from May 2019 | Trustee’s annual 2017 |
| 5th issuance of debentures (Ipiranga) – Securitized through Certificates of Agribusiness Receivables (CRA) (1nd Tranche) | Ipiranga Produtos de Petróleo SA | 95.00% CDI | R$ 660.1 milllion | April 17, 2017 | April 18, 2022 | biannual | Trustee’s annual report |
| 5th issuance of debentures (Ipiranga) – Securitized through Certificates of Agribusiness Receivables (CRA) (2nd Tranche) | Ipiranga Produtos de Petróleo SA | IPCA + 4.68% | R$ 352.4 million | April 17, 2017 | April 15, 2024 | biannual | Indenture of 5th issuance of debentures |
| Issuance of notes | Ultrapar International SA | 5.25% | US$ 750.0 million | October 6, 2016 | October 6, 2026 | biannual | – |
Rating
Ultrapar was assigned investment grade by Moody’s and Standard & Poor’s rating agencies, as follows. The ratings assigned to Ultrapar reflect, among other factors, its resilient results supported by its strong brands and leading positions; relatively stable cash generation; intermediate financial profile and a prudent and cost-focused management.
Global scale
| Agency | Rating | Outlook |
| Standard & Poor’s | BBB- | Stable |
| Moody’s | Ba1 | Positive |
Updated on: 28/10/2024
Brazil national scale
| Agency | Rating | Outlook |
| Standard & Poor’s | brAAA | Stable |
| Moody’s | Aaa.br | Stable |
Updated on: 28/10/2024