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Brazil’s Petrobras bond sale raises $5.17 bn
January 8, 2014, 5:43 am

Petroleo Brasileiro SA Petrobras (Petrobras) is a Brazilian integrated oil and gas company that also has operations in 24 countries outside Brazil [Petrobras]

Petroleo Brasileiro SA Petrobras (Petrobras) is a Brazilian integrated oil and gas company that also has operations in 24 countries outside Brazil [Petrobras]

Brazilian state-owned oil and gas giant Petrobras said Tuesday that it will sell $5.17 billion worth of bonds to fund its 2013-2017 business management plan.

The bonds, issued by Petrobras Global Finance, a subsidiary, are divided into the four tranches of four-, seven-, 11- and 20-year notes, and sales are expected to close on January 14, the company said in a statement.

The four-, seven- and 11-year notes will be denominated in euros, and the 20-year notes in sterling pounds, the company said.

Petrobras’ four-year bonds amount to 1.5 billion euros and will reach maturity on January 15, 2018. The 750 million euros of seven-year notes will mature in 2021, the 800 million euros of 11-year notes in 2025, and the 600 million pounds of 20-year notes in 2034.

The statement said the yields range from 2.829 per cent for 2018 expiry to 6.732 per cent for 2034 expiry.

Petroleo Brasileiro SA Petrobras (Petrobras) is a Brazilian integrated oil and gas company that also has operations in 24 countries outside Brazil.

 

Source: Agencies

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