PETROBRAS , reopening of Global Notes due 2019
Posted on July 2, 2009 – 5:14 pm | by oilandgaspress.com
PETROBRAS announces that its wholly owned subsidiary PETROBRAS INTERNATIONAL FINANCE COMPANY (“PifCo”), announced today the reopening of its 7.875% Global Notes due March 15, 2019, which will add US$ 1.25 billion to the US$ 1.5 billion originally issued on February 11, 2009, at a yield to investor of 8.125%. The reopening notes will be fully fungible with the original issue. Pricing also occurred today, and the following terms of the reopening have been determined:
· Amount: US$ 1.25 billion
· Coupon: 7.875%
· Price: 106.962
· Yield to Investors: 6.875%
· Maturity: March 15, 2019
· Ratings: Baa1 (Moody’s); BBB - (S&P); BBB (Fitch)
Citi, HSBC, JP Morgan and Santander were the bookrunners for the transaction and Banco do Brasil and Societe Generale were the co-managers. Closing is expected to occur on July 9, 2009.
Including this reopening, Petrobras will have raised a total of US$ 2.75 billion in the international capital markets in 2009. In accordance with the 2009-2013 Business Plan, Petrobras will use these funds to repay the bridge loans incurred at the beginning of this year.
Source: PETROBRAS
Website : www.
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