Published on 2/4/2019 in the Prospect News Emerging Markets Daily.
New Issue: Brazil’s Petrobras prices R$3.6 billion debentures in three series
By Marisa Wong
Morgantown, W.Va., Feb. 4 – Petroleo Brasileiro SA announced that it completed the bookbuilding process for its sixth issuance of simple non-convertible debentures. The R$3.6 billion of debentures will be allocated across three series, according to a 6-K filing with the Securities and Exchange Commission.
Petrobras priced
• $898,397,000 of first series incentive debentures due Jan. 15, 2026 with a rate of IPCA plus 404.6 basis points;
• $1,694,089,000 of second series incentive debentures due Jan. 15, 2029 with a rate of IPCA plus 421.86 bps; and
• $1,007,514,000 of third series non-incentive debentures due Jan. 15, 2026 with a rate equal to 106.25% of CDI.
The offering will settle on Feb. 12.
Petrobras is an oil and gas company based in Rio de Janeiro.
Issuer: | Petroleo Brasileiro SA
|
Issue: | Simple non-convertible debentures
|
Amount: | R$3.6 billion
|
Settlement date: | Feb. 12
|
|
First series
|
Type: | Incentive debenture
|
Amount: | $898,397,000
|
Maturity: | Jan. 15, 2026
|
Coupon: | IPCA plus 404.6 bps
|
|
Second series
|
Type: | Incentive debenture
|
Amount: | $1,694,089,000
|
Maturity: | Jan. 15, 2029
|
Coupon: | IPCA plus 421.86 bps
|
|
Third series
|
Type: | Non-incentive debenture
|
Amount: | $1,007,514,000
|
Maturity: | Jan. 15, 2026
|
Coupon: | 106.25% of CDI
|
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