Brazil's Petrobras sets talk for six-tranche dollar notes due in three, six, 10, 30 years

By Christine Van Dusen

Atlanta, March 10 - Brazil's Petroleo Brasileiro SA (Petrobras) set price talk for a six-tranche offering of dollar-denominated notes due in three, six, 10 and 30 years (Baa1/BBB/BBB), a market source said Monday.

The dollar benchmark notes due March 17, 2017 were talked at a spread in the Treasuries plus 260 basis points area. The bookrunners are Bank of China Hong Kong and HSBC.

The dollar benchmark floating-rate notes due March 17, 2017 were talked at a spread in the Libor plus 260 bps area. The bookrunners are Bank of China Hong Kong and JPMorgan.

The dollar benchmark notes due March 17, 2020 were talked in the Treasuries plus 340 bps area. BB Securities and HSBC are the bookrunners.

The dollar benchmark floating-rate notes due March 17, 2020 were talked at a spread in the Libor plus 298 bps area. Bradesco BBI and Citigroup are the bookrunners.

The dollar benchmark notes due March 17, 2024 were talked at a spread in the Treasuries plus 360 bps area. Bradesco BBI and Citigroup are the bookrunners.

And the dollar benchmark notes due March 17, 2044 were talked at a spread in the Treasuries plus 370 bps area and will be led by Bradesco BBI and Citigroup.

The proceeds from the Securities and Exchange Commission-registered deal will be used for capital expenditures.

The notes will be issued by Petrobras Global Finance and guaranteed by Petrobras, an energy company based in Rio de Janeiro.

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