Petrobras Issues US$ 6.75 billion in Global Notes

Rio de Janeiro, May 23, 2016 – Petróleo Brasileiro S.A. – Petrobras announces that it closed today a US$ 6.75 billion issuance of 5 and 10 year notes in the international capital markets. The notes were issued by Petrobras’ wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) and constitute general senior unsecured and unsubordinated obligations of PGF that are unconditionally and irrevocably guaranteed by Petrobras. Pricing occurred on May 17, 2016 and the terms of the notes are as follows:



2021 Notes

2026 Notes


US$ 5.0 billion

US$ 1.75 billion




Issue Price



Yield to Investors



Due Date



1st Interest Payment Date


Interest Payment Dates

May 23 and November 23 of each year


B3 (Moody’s) / B+ (S&P) / BB (Fitch)

Joint Bookrunners

BB Securities Ltd; J.P. Morgan Securities LLC; Merrill Lynch, Pierce, Fenner & Smith Incorporated and Santander Investment Securities Inc.


The order book was 2.75x and 3.0x oversubscribed in the 5 year and 10 year tranche respectively, with 629 investors from the United States, Europe, Asia and Latin America participating.

Petrobras intends to use the net proceeds from the sale of the notes to repurchase notes validly tendered and accepted for purchase by PGF in the previously announced waterfall tender, and to use any remaining net proceeds for general corporate purposes.

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