Petrobras Prices Global Notes

(Petrobras, 13.Oct.2020) — Petrobras priced an offering of additional notes of its 5.600% Global Notes due 2031 (CUSIP No. 71647NBH1/ ISIN No. US71647NBH17) 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.

The additional notes will be consolidated, form a single series, and be fully fungible with, PGF’s outstanding $1,500,000,000 aggregate principal amount of 5.600% Global Notes due 2031 issued on 3 June 2020. Settlement is expected to occur on 21 October. 

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

— Issue: 5.600% Global Notes due 2031

— Reopening Principal Amount: $1,000,000,000, for an aggregate principal amount for the series of $2,500,000,000

— Coupon: 5.600% 

— Reopening price:  109.579 % of principal amount, plus accrued and unpaid interest from, and including, 3 June to, but excluding, the settlement date of the notes

— Yield to Worst: 4.400 % (calculated as yield to 3 October 2030, the notes’ first par call date)

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

— Maturity: 3 January 2031

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PGF intends to use the net proceeds from the sale of the Notes to repurchase its 4.375% Global Notes due 2023, 4.250% Global Notes due 2023, 6.250% Global Notes due 2024, 4.750% Global Notes due 2025, 5.299% Global Notes due 2025, 8.750% Global Notes due 2026, 7.375% Global Notes due 2027, 5.999% Global Notes due 2028, 5.750% Global Notes due 2029 and 5.093% Global Notes due 2030, in each case that PGF accepts for purchase in the tender offers announced concurrently with the offering of the Notes, and to use any remaining net proceeds for general corporate purposes.