Brazil’s Petrobras sets talk for five-year, 10-year bonds

By Christine Van Dusen

Atlanta, Jan. 9 – Brazil’s Petroleo Brasiliero SA (Petrobras) – via Petrobras Global Finance BV – set talk for a two-tranche offering of notes due in five and 10 years, a market source said.

The five-year notes were talked at a yield in the 6½% area, and the 10-year bonds were talked in the 7¾% area.

The notes could price as soon as late Monday, a syndicate source said.

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 $2 billion, excluding interest.

The remaining proceeds will be used for general corporate purposes.

Petrobras is an energy company based in Rio de Janeiro.

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