05/16/2017
Petrobras announced the raising of US $ 4 billion in the international market, through the issuance of debt securities.
The funding was raised through the reopening of the sale of securities maturing in 2022, 2027 and 2044. The proceeds will be used to extend the term of the company’s indebtedness, with the prepayment of debts due in 2018.
US $ 1 billion maturing in 2022 and interest of 6.125% per annum, US $ 2 billion maturing in 2027 and interest of 7.375% per annum, and US $ 1 billion maturing in 2044 and interest of 7.250% per annum. year.
In a statement, the state company said that the funds could also be used to refinance other debts and for “general corporate purposes.” The operation was coordinated by Banco do Brasil, Bradesco, Citigroup, HSBC, Itaú BBA and Morgan Stanley.
This is the second time in a year that the state company issues securities in the international market. In the first, in January, it raised US $ 4 billion.
The restructuring of the debt is the priority of the company’s management, which intends to sell US $ 21 billion by 2018 to pay off debt and seek to extend the term of the financing.
In a statement released on Thursday (11), the company reported closing the first quarter of 2017 with net debt of R $ 300.975 billion, or US $ 95 billion.
In the period, the company had a profit of R $ 4.45 billion, as a result of cost cuts and increase of pre-salt oil production.
Brazil Energy Insight 
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