By Christine Van Dusen
Atlanta, Jan. 10 – Brazil’s Petroleo Brasileiro SA (Petrobras) released details on the $4 billion, two-tranche issue of notes due Jan. 17, 2022 and 2027 via Petrobras Global Finance BV.
The $2 billion five-year notes priced at par to yield 6 1/8%. They had been talked at a yield in the 6½% area.
The $2 billion 10-year bonds priced at par to yield 7 3/8% and had been talked in the 7¾% area.
Banco Bradesco BBI, Citigroup, HSBC, Itau BBA and Morgan Stanley are the joint bookrunners for the deal.
The proceeds will be used to fund tender offers for several series of notes. Petrobras Global Finance is offering to pay up to $4 billion, increased from $2 billion, excluding interest.
The remaining proceeds will be used for general corporate purposes.
Petrobras is an energy company based in Rio de Janeiro.
| Issuer: | Petrobras Global Finance BV
|
| Amount: | $4 billion
|
| Description: | Senior unsecured notes
|
| Bookrunners: | Banco Bradesco BBI, Citigroup, HSBC, Itau BBA, Morgan Stanley
|
| Call options: | Make-whole call at 50 bps
|
| Trade date: | Jan. 9
|
| Settlement date: | Jan. 17
|
| Distribution: | SEC registered
|
|
|
| Five-year notes
|
| Amount: | $2 billion
|
| Maturity: | Jan 17, 2022
|
| Coupon: | 6 1/8%
|
| Price: | Par
|
| Yield: | 6 1/8%
|
| Price talk: | 6½% area
|
|
|
| 10-year notes
|
| Amount: | $2 billion
|
| Maturity: | Jan 17, 2027
|
| Coupon: | 7 3/8%
|
| Price: | Par
|
| Yield: | 7 3/8%
|
| Price talk: | 7¾% area
|
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