(Petrobras, 9.Feb.2017) – Petróleo Brasileiro S.A. – Petrobras (PBR) announced that holders of $4,899,100,000 and €631,753,000 principal amount of the outstanding notes of the series set forth in the table below (all such notes, collectively, the Old Notes and each a “series” of Old Notes), issued by its wholly-owned subsidiary Petrobras Global Finance B.V. (PGF), tendered their Old Notes at or prior to 11:59 p.m., New York City time, on February 8, 2017 (the Expiration Date), pursuant to PGF’s previously announced cash tender offers (the Tender Offers).
The following table summarizes the final tender results as of the Expiration Date and the principal amount of Old Notes that PGF has accepted for purchase:
Holders of $13,542,000 and €200,000 principal amount of Old Notes tendered their Old Notes after 5:00 p.m., New York City time, on January 25, 2017 (the Early Tender Date), and on or prior to the Expiration Date. PGF has accepted for purchase all of the Old Notes validly tendered in the Tender Offers after the Early Tender Date and on or prior to the Expiration Date. The final settlement date on which PGF will make payment for Old Notes accepted in the Tender Offers after the Early Tender Date is expected to be February 13, 2017 (the Final Settlement Date).
Holders of Old Notes that validly tendered on or prior to the Early Tender Date and whose Old Notes were accepted for purchase received the applicable total consideration set forth in the table above, which included an early tender premium as set forth therein, and accrued and unpaid interest on their accepted Old Notes from the last interest payment date to, but not including, January 30, 2017, the early settlement date of the Tender Offers. Holders of Old Notes that validly tendered after the Early Tender Date but on or prior to the Expiration Date and whose Old Notes have been accepted for purchase are entitled to receive only the applicable tender offer consideration set forth in the table above, which is equal to the total consideration set forth in the table above minus the applicable early tender premium as set forth therein, and to receive accrued and unpaid interest on their accepted Old Notes from the last interest payment date to, but not including, the Final Settlement Date.
The total cash payment to purchase the accepted Old Notes on the Final Settlement Date will be $13,975,639.76 and €209,913.02, in each case including accrued and unpaid interest. Old Notes that have been validly tendered after the Early Tender Date and on or prior to the Expiration Date cannot be withdrawn, except as may be required by applicable law.
The Tender Offers have now expired. No Old Notes tendered after the Expiration Date will be accepted for purchase pursuant to the Tender Offers. Any tendered Old Notes that are not accepted for purchase will be returned or credited to the holder’s account.
The Tender Offers were made pursuant to the offer to purchase dated January 9, 2017 (as amended or supplemented from time to time, the “Offer to Purchase”), and the related letter of transmittal dated January 9, 2017 (as amended or supplemented from time to time, the “Letter of Transmittal”), which set forth in more detail the terms and conditions of the Tender Offers.
PGF engaged Banco Bradesco BBI S.A., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Itau BBA USA Securities, Inc. and Morgan Stanley & Co. LLC to act as dealer managers (the “Dealer Managers”) in connection with the Tender Offers. Global Bondholder Services Corporation acted as the depositary and information agent for the Tender Offers.
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