By Wendy Van Sickle
Columbus, Ohio, Jan. 9 – Brazil’s Petroleo Brasiliero SA (Petrobras) – via Petrobras Global Finance BV – priced $4 billion of global notes in two tranches – one due in five years, the other in 10, according to a press release.
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: | Global notes
|
| Bookrunners: | Banco Bradesco BBI, Citigroup, HSBC, Itau BBA and Morgan Stanley
|
| Pricing date: | Jan. 9
|
|
|
| 2022 notes
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| Amount: | $2 billion
|
| Maturity: | Jan 17, 2022
|
| Coupon: | 6 1/8%.
|
| Price: | Par
|
| Yield: | 6 1/8%
|
| Price talk: | 6½% area
|
|
|
| 2027 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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