By Marisa Wong
Los Angeles, Oct. 14 – Petroleo Brasileiro SA (Petrobras) priced $1 billion of 5.6% global notes due Jan. 3, 2031 on Tuesday at 109.579 to yield 4.4%, according to an FWP filing with the Securities and Exchange Commission.
The notes will be issued through wholly owned subsidiary Petrobras Global Finance BV and guaranteed by the parent company.
The notes will be consolidated, form a single series and be fully fungible with the $1.5 billion 5.6% notes due 2031 issued on June 3.
BofA Securities, Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Itau BBA USA Securities, Inc., J.P. Morgan Securities LLC, Santander Investment Securities Inc. and Scotia Capital (USA) Inc. are the joint bookrunners for the SEC-registered deal.
Proceeds from the tap issue will be used to purchase notes under concurrent tender offers. Any remaining proceeds will be used for general corporate purposes.
Petrobras is an oil and gas company based in Rio de Janeiro.
| Issuer: | Petrobras Global Finance BV
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| Guarantor: | Petroleo Brasileiro SA (Petrobras)
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| Issue: | Senior notes, add-on
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| Amount: | $1 billion
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| Maturity: | Jan. 3, 2031
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| Bookrunners: | BofA Securities, Inc., Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Itau BBA USA Securities, Inc., J.P. Morgan Securities LLC, Santander Investment Securities Inc. and Scotia Capital (USA) Inc.
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| Coupon: | 5.6%
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| Price: | 109.579
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| Yield: | 4.4%
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| Call features: | Make-whole call at Treasuries plus 50 bps prior to Oct. 3, 2030; par call after that
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| Pricing date: | Oct. 13
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| Settlement date: | Oct. 21
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| Distribution: | SEC registered
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| Total issuance: | $2.5 billion, including $1.5 billion issued on June 3
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