Brazil’s Petrobras to price new notes, add-on to 5¾% notes due 2029

By Rebecca Melvin

New York, March 12 – Petrobras Global Finance BV, a subsidiary or Brazil’s Petroleo Brasileiro SA (Petrobras), announced that it has begun to offer new U.S. dollar-denominated notes and an add-on to its existing 5¾% global notes due 2029, according to a company news release on Tuesday.

Petrobras is also making cash tender offers to repurchase outstanding dollar- and euro-denominated notes.

BNP Paribas Securities Corp., Banco Bradesco BBI SA, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc. and Santander Investment Securities Inc. have been selected to act as joint bookrunners for the new notes and as lead dealer managers with respect to the tender offers, and ABN Amro Securities (USA) LLC, BBVA Securities Inc. and Commerz Markets LLC to act as co-managers with respect to the new notes offering and as co-dealer managers for the tenders.

The tender offers are conditioned on Petrobras raising at least $2 billion from the notes offerings.

The proceeds of the new notes will be used to repurchase tendered notes and for general corporate purposes.

The energy company is based in Rio de Janeiro.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.