Brazil’s Petrobras sets call price for 4 7/8%, 5¾% notes due 2020

By Susanna Moon

Chicago, May 1 – Petroleo Brasileiro SA announced the redemption prices for subsidiary Petrobras Global Finance BV’s $380,543,000 4 7/8% global notes due 2020 and $938,684,000 5¾% global notes due 2020.

The notes will be redeemed May 3 at a purchase price for each $1,000 principal amount of $1,045.55 for the 4 7/8% notes and $1,065.63 for the 5¾% notes, according to a 6-K filing with the Securities and Exchange Commission.

The redemption price includes per $1,000 principal amount a make-whole premium of $39.32 for the 4 7/8% notes and $49.18 for the 5¾% notes as well as accrued interest to but excluding the redemption date.

The aggregate purchase amount will be $397,876,275.51 for the 4 7/8% notes, including a make-whole premium of $14,962,809.74. For the 5¾% notes, the total amount will be $1,000,293,863.58 including a make-whole premium of $46,167,208.05.

For questions, call +55 21 3224 1510/3224 9947, fax +55 21 3224 1401 or e-mail petroinvest@petrobras.com.br.

The company issued the calls on April 4 at a make-whole price of Treasury rate plus 25 basis points for the 4 7/8% notes and Treasuries plus 35 bps for the 5¾% notes.

Petrobras is a Rio de Janeiro-based oil and gas company.

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