Petrobras Prices Two Global Notes For $3.3bn

(Petrobras, 27.May.2020) — Petrobras announces the pricing of two series of global notes denominated in US Dollars to be issued by its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF).

The Notes will be unsecured obligations of PGF and will be fully and unconditionally guaranteed by Petrobras. Closing is expected to occur on June 3, 2020. 

The terms of the 5.600% Global Notes due 2031 are as follows:

— Issue: 5.600% Global Notes due 2031

— Amount: US$1,500,000,000

— Coupon: 5.600%

— Interest Payment Dates: January 3 and July 3 of each year, commencing on January 3, 2021

— Issue price: 99.993%

— Yield to Investors: 5.600%

— Maturity: January 3, 2031

The terms of the 6.750% Global Notes due 2050 are as follows:

— Issue: 6.750% Global Notes due 2050

— Amount: US$1,750,000,000

— Coupon: 6.750%

— Interest Payment Dates: June 3 and December 3 of each year, commencing on December 3, 2020

— Issue price: 98.110%

 — Yield to Investors: 6.900%

— Maturity: June 3, 2050

PGF intends to use the net proceeds from the sale of the Notes for general corporate purposes.

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