Petrobras Reopens Global Notes Due 2019, Raises Total of $2.75B

Petrobras and its wholly owned subsidiary Petrobas International Finance Company ("PifCo"), announced 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 has 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.


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