New Issue: Brazil’s Petrobras prices $2 billion global notes due 2025, 2028 at 5.3%, 6% yields

By Wendy Van Sickle

Columbus, Ohio, Sept. 18 – Brazil’s Petroleo Brasiliero SA (Petrobras) – via Petrobras Global Finance BV – priced $2 billion of global notes in two tranches – one due in 2025, the other in 2028, according to a press release.

The $1 billion notes due 2025 priced at par for a yield to maturity of 5.3%. They had been talked at a yield in the 5˝% to 6% area.

The $1 billion bonds due 2028 priced at par for a yield to maturity of 6% and had been talked in the low 6% range.

BofA Merrill Lynch, BB Securities, Citigroup, Credit Agricole, HSBC, JPMorgan and Santander are the joint bookrunners for the Rule 144A and Regulation S deal.

Proceeds will be used for general corporate purposes, including to refinance upcoming maturities. Petrobras is an energy company based in Rio de Janeiro.

Issuer:	Petrobras Global Finance BV
Amount:	$2 billion
Description:	Global notes
Bookrunners:	BofA Merrill Lynch, BB Securities, Citigroup, Credit Agricole, HSBC, JPMorgan and Santander
Pricing date:	Sept. 18
2025 notes
Amount:	$1 billion
Maturity:	Jan. 27, 2025
Coupon:	5.299%
Price:	Par
Yield to maturity:	5.3%
Make-whole call:	Treasuries plus 50 bps
Price talk:	5˝% to 6%
2028 notes
Amount:	$1 billion
Maturity:	Jan. 27, 2028
Coupon:	5.999%
Price:	Par
Yield to maturity:	6%
Make-whole call:	Treasuries plus 50 bps
Price talk:	Low 6% range

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