(Petrobras, 10.Jan.2017) – Petrobras announces the pricing of global notes denominated in U.S. Dollars (the “Notes”) 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 January 17, 2017.
The terms of the 6.125% Global Notes due 2022 are as follows:
— Issue: 6.125% Global Notes due 2022 — Amount: US$2,000,000,000 — Coupon: 6.125% — Interest Payment Dates: January 17 and July 17 of each year, commencing on July 17, 2017 — Issue price: 100.000% of principal amount, plus accrued interest (if any) from July 17, 2017 — Yield to Investors: 6.125% — Maturity: January 17, 2022
The terms of the 7.375% Global Notes due 2027 are as follows:
— Issue: 7.375% Global Notes due 2027 — Amount: US$2,000,000,000 — Coupon: 7.375% — Interest Payment Dates: January 17 and July 17 of each year, commencing on July 17, 2017 — Issue price: 100.000% of principal amount, plus accrued interest (if any) from July 17, 2017 — Yield to Investors: 7.375% — Maturity: January 17, 2027
PGF intends to use a portion of the net proceeds from the sale of the Notes to repurchase notes validly tendered and accepted for purchase by PGF in the previously announced cash tender offers (the “Tender Offers”), and to use any remaining net proceeds for general corporate purposes.
In connection with the Tender Offers, PGF announces that it has increased the tender cap from $2 billion to $4 billion. Except as described in this press release, all other terms of the Tender Offers as described in the offer to purchase dated January 9, 2017 (as may be amended or supplemented from time to time, the “Offer to Purchase”), and in the related letter of transmittal dated January 9, 2017 (as may be amended or supplemented from time to time, the “Letter of Transmittal”) remain unchanged.
PGF has 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 in connection with the Tender Offers. Global Bondholder Services Corporation is acting as the depositary and information agent for the Tender Offers.
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