Brazil's Petrobras structures dollar deal as 10- and 30-year notes

By Christine Van Dusen and Paul A. Harris

Atlanta, Oct. 21 - Petrobras International Finance Co. announced the structure of its benchmark-sized offering of dollar denominated senior unsecured notes (Baa1/BBB-/BBB-) will be tranches of bonds due in 2019 and 2039, according to a market source.

The roadshow concludes Thursday in New York and Boston, and the deal is expected to price this week.

Citigroup, HSBC, JP Morgan and Santander are the joint bookrunners for the Securities and Exchange Commission registered deal.

The notes will have a make-whole call.

Proceeds will be used to repay borrowings under lines of credit used to finance capital expenditures. Any remaining funds will go to general corporate purposes.

Petrobras is an energy company based in Rio de Janeiro, Brazil.

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