By Christine Van Dusen
Atlanta, Dec. 1 - Brazil's Petrobras International Finance Co. priced a €1.85 billion issue of notes due 2018 and 2022 (A3/BBB/BBB), a market source said.
The Securities and Exchange Commission-registered transaction came to the market via bookrunners Banco Bradesco BBI, Banco Santander, BB Securities, Credit Agricole, Deutsche Bank and HSBC.
The deal included €1.25 billion 4 7/8% notes due March 7, 2018 that priced at 99.021 to yield 5.066%, or mid-swaps plus 285 basis points. The notes were talked at a spread of mid-swaps plus 290 bps to 300 bps.
The second tranche totaled €600 million 5 7/8% notes due March 7, 2022 that priced at 99.266 to yield 5.977%, or mid-swaps plus 330 bps. The notes were talked at mid-swaps plus 330 bps to 340 bps.
Petrobras is an energy company based in Rio de Janeiro.
| Issuer: | Petrobras International Finance Co.
|
| Amount: | €1.85 billion
|
| Description: | Notes
|
| Bookrunners: | Banco Bradesco BBI, Banco Santander, BB Securities, Credit Agricole, Deutsche Bank, HSBC
|
| Trade date: | Dec. 1
|
| Settlement date: | Dec. 9
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
| Distribution: | Securities and Exchange Commission registered
|
|
|
| Notes due 2018
|
| Amount: | €1.25 billion
|
| Maturity: | March 7, 2018
|
| Coupon: | 4 7/8%
|
| Price: | 99.021
|
| Yield: | 5.066%
|
| Spread: | Mid-swaps plus 285 bps
|
| Price talk: | Mid-swaps plus 290 bps to 300 bps
|
|
|
| Notes due 2022
|
| Amount: | €600 million
|
| Maturity: | March 7, 2022
|
| Coupon: | 5 7/8%
|
| Price: | 99.266
|
| Yield: | 5.977%
|
| Spread: | Mid-swaps plus 330 bps
|
| Price talk: | Mid-swaps plus 330 bps to 340 bps
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
