Brazil’s Petrobras talks dollar 11-year notes to yield low to mid 6%

By Rebecca Melvin

New York, Jan. 25 – Petrobras Global Finance BV, a subsidiary or Brazil’s Petroleo Brasileiro SA (Petrobras), plans to price a dollar-denominated offering of 11-year notes to yield in the low to mid 6% range, according to a market source on Thursday.

BNP Paribas, Citigroup, Credit Agricole CIB, Itau BBA and Mizuho Securities are the bookrunners for the Securities and Exchange Commission-registered deal, which is expected to price on Thursday.

Proceeds are earmarked for the redemption of its existing 3% global notes due January 2019, 7 7/8% global notes due March 2019 and 3¼% global notes due April 2019, with the remainder to repay other existing debt and for general corporate purposes.

The energy company is based in Rio de Janeiro.

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