By Christine Van Dusen
Atlanta, June 2 – Brazil’s Petroleo Brasileiro SA (Petrobras) released details on its new issue of $2.5 billion 6.85% notes due June 5, 2115.
The notes (Ba2/BBB-/BBB-) priced Monday at 81.07 to yield 8.45%, or Treasuries plus 549.3 basis points, a market source said.
The notes were issued through Petrobras Global Finance BV, according to a company filing.
Deutsche Bank and JPMorgan were the bookrunners for the Securities and Exchange Commission-registered deal.
The proceeds will be used for general corporate purposes.
The notes include a make-whole call at 75 bps.
The energy company is based in Rio de Janeiro.
| Issuer: | Petroleo Global Finance BV
|
| Amount: | $2.5 billion
|
| Maturity: | June 5, 2115
|
| Description: | Notes
|
| Bookrunners: | Deutsche Bank, JPMorgan
|
| Coupon: | 6.85%
|
| Price: | 81.07
|
| Yield: | 8.45%
|
| Spread: | Treasuries plus 549.3 bps
|
| Call options: | Make-whole call at 75 bps
|
| Trade date: | June 1
|
| Settlement date: | June 5
|
| Ratings: | Moody’s: Ba2
|
| Standard & Poor’s: BBB-
|
| Fitch: BBB-
|
| Distribution: | SEC registered
|
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