Petrobras to tap dollar 8 3/8% notes due 2021 and 8¾% notes due 2026

By Christine Van Dusen

Atlanta, July 7 – Brazil’s Petroleo Brasileiro SA (Petrobras) is planning to issue taps of its dollar-denominated 8 3/8% notes due in 2021 and 8¾% notes due in 2026 via subsidiary Petrobras Global Finance BV, according to a company filing.

The original issue of 2021 notes totaled $5 billion and priced on May 23. The original issue of 2026 notes totaled $1.75 billion and also priced on May 23.

The proceeds will be used to repurchase notes in a tender offer. Any remaining proceeds will be used for general corporate purposes.

BB Securities, BofA Merrill Lynch, JPMorgan and Santander are the bookrunners for the Securities and Exchange Commission-registered deal.

Petrobras is a Rio de Janeiro-based energy company.

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