Financial

Petrobras Announces Increase of Tender Cap and Extension of Early Tender Date and Expiration Date

01/24/2017

Petrobras Announces Increase of Tender Cap and Extension of Early Tender Date and Expiration Date

Rio De Janeiro, Brazil – January 24, 2017 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) has increased the tender cap in its previously announced cash tender offers (the “Tender Offers”) from US$4.0 billion to US$6.0 billion.

The early tender date for the Tender Offers has been extended to 5:00 p.m., New York City time, on January 25, 2017 (the “New Early Tender Date”).  The expiration date for the Tender Offers has also been extended to 11:59 p.m., New York City time, on February 8, 2017 (the “New Expiration Date”).  The withdrawal date (January 23, 2017) for the Tender Offers has now passed and will not be extended.  Notes validly tendered pursuant to the Tender Offers may no longer be withdrawn, and any notes previously tendered and to be tendered prior to the New Early Tender Date or the New Expiration Date may not be withdrawn. The early settlement date on which PGF will make payment for notes accepted in the Tender Offers is expected to be January 30, 2017.

The following table summarizes the principal amount of notes tendered as of 5:00 p.m., New York City time, on January 23, 2017, the original early tender date of the Tender Offers:

see attached

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Categories: Financial, Petrobras

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