Brazil's Petrobras launches $11 billion global notes due 2016, 2019, 2023, 2043

By Christine Van Dusen

Atlanta, May 13 - Brazil's Petroleo Brasileiro SA (Petrobras) launched $11 billion of global notes due in 2016, 2019, 2023 and 2043 in a Securities and Exchange Commission-registered deal, a market source said.

The deal includes $1.25 billion notes due May 20, 2016 that launched at Treasuries plus 175 basis points. The notes were talked at a spread in the 180 bps area.

Another $1 billion in notes due May 20, 2016 launched at Libor plus 162 bps, following talk in the 167 bps area.

The company also launched $2 billion notes due Jan. 15, 2019 at Treasuries plus 230 bps. The notes were talked at a spread in the 235 bps area.

A $1.5 billion tranche of notes due Jan. 15, 2019 launched at Libor plus 214 bps, after talk in the 219 bps area.

The notes due May 20, 2023 total $3.5 billion and launched at Treasuries plus 260 bps. Talk was set in the 265 bps area.

And $1.75 billion notes due May 20, 2043 launched at Treasuries plus 265 bps, following talk in the 270 bps area.

BB Securities, BofA Merrill Lynch, Citigroup, HSBC, Itau BBA, JPMorgan and Morgan Stanley are the bookrunners.

The proceeds will be used for capital expenditures and general corporate purposes.

The notes will be issued by subsidiary Petrobras Global Finance BV.

Petrobras is an energy company based in Rio de Janeiro.

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