EduBourseActualitésPetrobras completes the issuing of $1.5 bn in global notes in the...

Petrobras completes the issuing of $1.5 bn in global notes in the international capitals market

Petrobras, through its wholly-owned subsidiary Petrobras International Finance Company (“PifCo), completed the issuance of $1.5 billion in global notes due March 15 2019 yesterday. The demand was 3.5 times higher than the final volume and the notes were distributed to over 230 investors, most of whom dedicated to high grade fixed income markets. The funds will be used for general corporate purposes, including the financing of the Company’s Business Plan.

This was the first issuance of a Brazilian company since July 2008, when the effects of the international financial crises exacerbated. Also, it was the first one coordinated by the banks that granted Petrobras a two-year bridge loan funding. During this period, the company may extend the funding by issuing bonds in the international capitals market, as announced during the release of the 2009-2013 Business Plan.

Operation characteristics

Coupon: 7.875% p.a.
Investor yield: 8.125%
Spread to the American Treasury Note: 518 base points
Interest Payment Date: March 15 and September 15 each year, beginning on September 15 2009.
Ratings: Baa1 (Moody’s); BBB (S&P); BBB (Fitch)
Subscribers: HSBC Securities (USA) Inc., J.P. Morgan Securities Inc. & Santander Investment Securities Inc.
Co-Managers: Citigroup Global Markets Inc. & BB Securities Limited
These Global Notes constitute general senior unsecured and unsubordinated obligations of PifCo and will be unconditionally and irrevocably guaranteed by Petrobras.

Pierre Perrin-Monlouis
Pierre Perrin-Monlouis
Fondateur de Rente et Patrimoine (cabinet de gestion de patrimoine), Pierre Perrin-Monlouis est un analyste et trader pour compte propre. Il vous fait profiter de son expérience en trading grâce à ses analyses financières et décrypte pour vous les actualités des marchés. Son approche globale des marchés combine à la fois l'analyse technique et l'analyse fondamentale sur l'ensemble des marchés : crypto, forex, actions et matières premières.
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