By Christine Van Dusen
Atlanta, March 11 - Brazil's Petroleo Brasileiro SA (Petrobras) priced a six-tranche, $8.5 billion issue of notes due 2017, 2020, 2024 and 2044 (Baa1/BBB/BBB) in a Securities and Exchange Commission-registered deal, according to a company filing.
The deal included $1.6 billion 3¼% three-year notes that priced at 99.957 to yield Treasuries plus 250 basis points. The notes were talked at a spread in the 260 bps area. The bookrunners were Bank of China Hong Kong and HSBC.
The $1.4 billion three-year floating-rate notes priced at par to yield Libor plus 236 bps. The notes were talked at a spread in the Libor plus 260 bps area. The bookrunners were Bank of China Hong Kong and JPMorgan.
The $1.5 billion 4 7/8% six-year notes priced at 99.743 to yield Treasuries plus 330 bps. Talk was set in the 340 bps area. BB Securities and HSBC were the bookrunners.
The $500 million six-year floating-rate notes priced at par to yield Libor plus 288 bps. Talk was set in the 298 bps area. Bradesco BBI and Citigroup were the bookrunners.
The $2.5 billion 6¼% 10-year notes priced at 99.772 to yield Treasuries plus 350 bps. The notes were talked in the 360 bps area. Bradesco BBI and Citigroup were the bookrunners.
The $1 billion 7¼% 30-year notes due 2044 priced at 99.166 to yield Treasuries plus 360 bps. Talk was set in the 370 bps area. Bradesco BBI and Citigroup led the tranche.
The proceeds from the deal will be used for capital expenditures.
The notes were issued by Petrobras Global Finance BV and guaranteed by Petrobras, an energy company based in Rio de Janeiro.
| Issuer: | Petrobras Global Finance BV
|
| Guarantor: | Petroleo Brasileiro SA
|
| Amount: | $8.5 billion
|
| Trade date: | March 10
|
| Settlement date: | March 17
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
| Distribution: | Securities and Exchange Commission registered
|
|
|
| Three-year notes
|
| Amount: | $1.6 billion
|
| Maturity: | March 17, 2017
|
| Bookrunners: | Bank of China Hong Kong, HSBC
|
| Coupon: | 3¼%
|
| Price: | 99.957
|
| Spread: | Treasuries plus 250 bps
|
| Price talk: | Treasuries plus 260 bps area
|
|
|
| Three-year floaters
|
| Amount: | $1.4 billion
|
| Maturity: | March 17, 2017
|
| Description: | Floating-rate notes
|
| Bookrunners: | Bank of China Hong Kong, JPMorgan
|
| Coupon: | Libor plus 236 bps
|
| Price: | Par
|
| Yield: | Libor plus 236 bps
|
| Price talk: | Libor plus 260 bps area
|
|
|
| Six-year notes
|
| Amount: | $1.5 billion
|
| Maturity: | March 17, 2020
|
| Bookrunners: | BB Securities, HSBC
|
| Coupon: | 4 7/8%
|
| Price: | 99.743
|
| Spread: | Treasuries plus 330 bps
|
| Price talk: | Treasuries plus 340 bps area
|
|
|
| Six-year floaters
|
| Amount: | $500 million
|
| Maturity: | March 17, 2020
|
| Description: | Floating-rate notes
|
| Bookrunners: | Bradesco BBI, Citigroup
|
| Coupon: | Libor plus 288 bps
|
| Price: | Par
|
| Yield: | Libor plus 288 bps
|
| Price talk: | Libor plus 298 bps area
|
|
|
| 10-year notes
|
| Amount: | $2.5 billion
|
| Maturity: | March 17, 2024
|
| Bookrunners: | Bradesco BBI, Citigroup
|
| Coupon: | 6¼%
|
| Price: | 99.772
|
| Spread: | Treasuries plus 350 bps
|
| Price talk: | Treasuries plus 360 bps area
|
|
|
| 30-year bonds
|
| Amount: | $1 billion
|
| Maturity: | March 17, 2044
|
| Bookrunners: | BB Securities, JPMorgan
|
| Coupon: | 7¼%
|
| Price: | 99.166
|
| Spread: | Treasuries plus 360 bps
|
| Price talk: | Treasuries plus 370 bps area
|
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