By Christine Van Dusen
Atlanta, Jan. 20 - Brazil's Petroleo Brasileiro SA (Petrobras) priced $6 billion of five-, 10- and 30-year notes (Baa1/BBB-/BBB) via BTG Pactual, Citigroup, HSBC, Itau, JPMorgan and Santander, an informed market source said Thursday.
The deal included $2.5 billion 3 7/8% notes due Jan. 27, 2016 that priced at 99.663 to yield 3.95%, or Treasuries plus 190 basis points.
In the second tranche, $2.5 billion 5 3/8% notes due Jan. 27, 2021 priced at 99.801 to yield 5.401%, or Treasuries plus 195 bps.
And the third tranche totaled $1 billion 6¾% notes due Jan. 27, 2041 that came to market at 99.288 to yield 6.806%, or Treasuries plus 220 bps.
Proceeds from the Securities and Exchange Commission-registered deal will be used for general corporate purposes and capital expenditures.
Petrobras is an energy company based in Rio de Janeiro.
| Issuer: | Petroleo Brasileiro SA (Petrobras)
|
| Amount: | $6 billion
|
| Description: | Senior notes
|
| Bookrunners: | BTG Pactual, Citigroup, HSBC, Itau, JPMorgan, Santander
|
| Trade date: | Jan. 20
|
| Settlement date: | Jan. 27
|
| Distribution: | Securities and Exchange Commission registered
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB-
|
| Fitch: BBB
|
|
|
| Five-year notes
|
| Amount: | $2.5 billion
|
| Maturity: | Jan. 27, 2016
|
| Coupon: | 3 7/8%
|
| Price: | 99.663
|
| Yield: | 3.95%
|
| Spread: | Treasuries plus 190 bps
|
|
|
| 10-year notes
|
| Amount: | $2.5 billion
|
| Maturity: | Jan. 27, 2021
|
| Coupon: | 5 3/8%
|
| Price: | 99.801
|
| Yield: | 5.401%
|
| Spread: | Treasuries plus 195 bps
|
|
|
| 30-year bonds
|
| Amount: | $1 billion
|
| Maturity: | Jan. 27, 2041
|
| Coupon: | 6¾%
|
| Price: | 99.288
|
| Yield: | 6.806%
|
| Spread: | Treasuries plus 220 bps
|
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