By Christine Van Dusen
Atlanta, Jan. 7 - Brazil's Petroleo Brasileiro SA (Petrobras) priced a €3.05 billion multi-tranche issue of notes due 2019, 2021 and 2025 and £600 million due 2034 (expected ratings: Baa1/BBB/BBB), according to a company filing.
The deal included €1.5 billion 2¾% notes due Jan. 15, 2019 that priced at 99.705 to yield 2.829%, or mid-swaps plus 185 basis points.
A €750 million issue of 3¾% notes due Jan. 14, 2021 priced at 99.402 to yield 3.849%, or mid-swaps plus 220 bps.
And €800 million 4¾% notes due Jan. 14, 2025 priced at 99.204 to yield 4.845%, or mid-swaps plus 260 bps.
The £600 million 6 5/8% notes due Jan. 16, 2034 priced at 98.845 to yield 6.732%, or Gilts plus 315 bps.
BB Securities, BNP Paribas, Bradesco BBI, Credit Agricole, HSBC, JPMorgan and Mizuho Securities were the bookrunners for the Securities and Exchange Commission-registered deal. Bank of China and Standard Chartered Bank were the co-managers.
The proceeds will be used to finance planned capital expenditures and for general corporate purposes.
Petrobras is an energy company based in Rio de Janeiro.
| Issuer: | Petroleo Brasileiro SA
|
| Amount: | €3.05 billion, £600 million
|
| Description: | Notes
|
| Bookrunners: | BB Securities, BNP Paribas, Bradesco BBI, Credit Agricole, HSBC, JPMorgan and Mizuho Securities
|
| Trade date: | Jan. 7
|
| Settlement date: | Jan. 14
|
| Expected ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
| Distribution: | Securities and Exchange Commission registered
|
|
|
| Notes due 2019
|
| Amount: | €1.5 billion
|
| Maturity: | Jan. 15, 2019
|
| Coupon: | 2¾%
|
| Price: | 99.705
|
| Yield: | 2.829%
|
| Spread: | Mid-swaps plus 185 bps
|
|
|
| Notes due 2021
|
| Amount: | €750 million
|
| Maturity: | Jan. 14, 2021
|
| Coupon: | 3¾%
|
| Price: | 99.402
|
| Yield: | 3.849%
|
| Spread: | Mid-swaps plus 220 bps
|
|
|
| Notes due 2025
|
| Amount: | €800 million
|
| Maturity: | Jan. 14, 2025
|
| Coupon: | 4¾%
|
| Price: | 99.204
|
| Yield: | 4.845%
|
| Spread: | Mid-swaps plus 260 bps
|
|
|
| Notes due 2034
|
| Amount: | £600 million
|
| Maturity: | Jan. 16, 2034
|
| Coupon: | 6 5/8%
|
| Price: | 98.845
|
| Yield: | 6.732%
|
| Spread: | Gilts plus 315 bps
|
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