The Company's principal objectives were: to reinitiate a relationship with the Japanese market, access a new investor base and achieve a competitive cost in the light of its investment grade rating granted by Moody's Investor Services. This funding carries a semi-annual coupon of 2.15% p.a., a ten-year maturity (bullet repayment) and the partial guarantee of the JBIC (Japan Bank for International Cooperation).
The Company intends to use the financial resources raised from this issue to finance, either partially or in full, the construction of lines interconnecting the P-51, P-52 and P-53 production platforms to the PRA-1 autonomous repumping unit.
The operation was led by Mitsubishi UFJ Securities and Nomura Securities Co. Ltd. and marks Petrobras' return to the Japanese capital markets, from which the Company had been absent since1997.
The securities were sold to various Japanese investors including insurance companies and financial institutions. The support of the JBIC guarantee provided additional support in accessing such investors in the process of reopening the market.
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