Petrobras Prices $3 Bln in Bonds

Wednesday, March 13, 2019

Brazilian oil company Petroleo Brasileiro SA has priced global notes worth $3 billion due in 2029 and in 2049 as it seeks to repurchase shorter-term debt obligations, according to a securities filing late Tuesday.

Petrobras, as the state-run company is known, priced additional notes from its 5.750 percent global notes program and new notes to be issued by its wholly owned subsidiary Petrobras Global Finance BV (PGF), the filing said.

The company intends to use proceeds from the new bond sales to repurchase certain outstanding debt obligations due between 2021 and 2025. The notes will be unsecured obligations of PGF and will be fully and unconditionally guaranteed by the oil firm, according to the filing.

PGF raised $750 million from the sale of notes paying a nominal annual coupon of 5.750 percent with interest payments due every Feb. 1 and Aug. 1 of each year, starting next August. The reopening price of the 2029 notes was 98.515 percent of the principal amount, Petrobras said.

The company also sold $2.250 billion in 2049 notes paying a 6.9 percent nominal annual coupon, with interest payment dates set at Mar. 19 and Sept. 19 of each year, commencing next Sept. 19, according to the filing.


(Reporting by Ana Mano; Editing by Jeffrey Benkoe)

Categories: Finance Energy Industry News South America

Related Stories

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Fugro Lands Deepwater Gas Field Job in Southeast Asia

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

BW Opal FPSO Vessel set for Work off Australia

Petronas, Inpex Secure Oil and Gas Exploration Rights off Indonesia

Mubadala Energy Open to Sell Andaman Gas for Domestic Use

Indonesia's Medco Starts Production at Natuna Sea Fields

Indonesia Grants Approval to Kuwaiti Firm for Anambas Block in Natuna Sea

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

Hanwha Ocean Marks Entry into Deepwater Drilling Market with First Drillship

Current News

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Fugro Lands Deepwater Gas Field Job in Southeast Asia

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Three Dead in Chevron's Angolan Oil Patform Fire

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com