Petrobras Closes $4B Issuance of 10- and 30-Year Notes

On October 30, Petrobras closed a US $4 billion issuance of 10- and 30-year notes in the international capital markets. The notes were issued by Petrobras' wholly-owned subsidiary Petrobras International Finance Company ("PifCo") and constitute general senior unsecured and unsubordinated obligations of PifCo that are unconditionally and irrevocably guaranteed by Petrobras.

The transaction was the largest-ever corporate bond offering by a Brazilian company in the international capital markets, and the book was oversubscribed 2.9 times with more than 500 investors from the United States, Europe, Asia and Latin America participating, most of them dedicated to the high grade market.

The proceeds from the issuance will be used to repay the bridge loans incurred at the beginning of the year, and for general corporate purposes.


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