Brazil’s Petrobras to offer add-ons for three series of notes

By Colin Hanner

Chicago, May 15 – Petroleo Brasileiro SA plans to sell an additional amount of its 6 1/8% notes due 2022, 7 3/8% notes due 2027 and 7¼% notes due 2044, the company said in a 6-K filing with the Securities and Exchange Commission.

The notes will be sold via wholly owned subsidiary Petrobras Global Finance BV.

Each set of notes will be consolidated and form a single series with similar terms.

Currently, Petroleo Brasileiro has $2 billion outstanding 2022 notes, $2 billion outstanding 2027 notes and $1 billion outstanding 2044 notes.

Proceeds from the notes will go toward redeeming existing 2¾% notes due 2018, 5 7/8% notes due 2018 and its 4 7/8% notes due 2018, as well as to pay down other existing debt and for general corporate purposes.

BB Securities Ltd., Banco Bradesco BBI SA, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Itau BBA USA Securities, Inc. and Morgan Stanley & Co. LLC will act as joint bookrunners for the deal.

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