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Brazil’s Petrobras plans early redemption for two series due 2023
Chicago, Aug. 30 – Petroleo Brasileiro SA (Petrobras) has issued a notice of redemption for two series of notes due 2023 that were issued by wholly owned subsidiary Petrobras Global Finance BV, according to a 6-K filing with the Securities and Exchange Commission on Monday.
The company is redeeming the €296,398,000 4¼% global notes due 2023 (ISIN: XS0835890350) and the $916,321,000 4 3/8% global notes due 2023 (ISIN: US71647NAF69) on Sept. 29.
Make-whole payments will be calculated using the relevant Bund rate plus 45 basis points for the euro notes and the relevant U.S. Treasury rate plus 40 bps for the dollar notes. Calculations on the redemption prices will be made the third business day before the redemption date.
Interest will also be paid to the redemption date.
Funding for the redemptions will come from cash on hand.
The energy company is based in Rio de Janeiro.
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