Published on 6/2/2021 in the Prospect News Emerging Markets Daily.
New Issue: Petrobras Global Finance prices $1.5 billion global notes due 2051 at 5½% yield
By Wendy Van Sickle
Columbus, Ohio, June 2 – Petrobras Global Finance BV priced $1.5 billion of 5½% global notes due 2051 at 96.446 to yield 5¾%, according to an FWP filing with the Securities and Exchange Commission.
The notes are guaranteed by Petroleo Brasileiro SA – Petrobras.
BofA Securities LLC, Goldman Sachs & Co. LLC, Itau BBA USA Securities, Inc., J.P. Morgan Securities LLC, MUFG, Santander Investment Securities Inc. and UBS Securities LLC are the joint bookrunners.
Proceeds from the issue will be used to purchase notes under concurrent tender offers. Any remaining proceeds will be used for general corporate purposes.
Petrobras is a Buenos Aires-based energy company.
| Issuer: | Petrobras Global Finance BV
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| Guarantor: | Petroleo Brasileiro SA – Petrobras
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| Amount: | $1.5 billion
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| Maturity: | June 10, 2051
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| Description: | Global senior notes
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| Bookrunners: | BofA Securities LLC, Goldman Sachs & Co. LLC, Itau BBA USA Securities, Inc., J.P. Morgan Securities LLC, MUFG, Santander Investment Securities Inc. and UBS Securities LLC
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| Coupon: | 5½%
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| Price: | 96.446
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| Yield: | 5¾%
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| Call: | Make-whole call at Treasuries plus 50 bps until Dec. 10, 2050, par call thereafter
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| Trade date: | June 2
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| Settlement date: | June 10
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| Distribution: | SEC registered
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