Petróleo Brasileiro S.A. – Petrobras informs that it concluded today, through its wholly owned subsidiary Petrobras Global Finance B.V. (PGF), the offering of notes in the international capital market (Global Notes), in the amount of US$ 1.25 billion maturing in 2033. The operation was priced on June 26, 2023, as disclosed to the market.
Below is the main information about the issue:
- Issued volume: US$ 1.25 billion
- Coupon: 6.5 p.y.
- Interest payment dates: January 03 and July 03 of each year, starting January 03, 2024
- Issue price: 096%
- Yield to investor: 6.625% p.y.
- Maturity: July 03, 2033
- Ratings: Ba1 (Moody’s) / BB- (S&P) / BB- (Fitch)
Demand was 3.4 times the offering volume, with 327 orders from investors in North America, Europe, Asia, and Latin America.
The transaction was conducted by Banco BTG Pactual S.A., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Itaú BBA USA Securities, Inc., MUFG Securities Americas Inc, Santander US Capital Markets LLC, Scotia Capital (USA) Inc. and UBS Securities LLC. The choice of these institutions took several factors into consideration, including criteria for sustainability commitments in line with the current Strategic Plan 2023-2027 and its recent revision.
The net proceeds from the sale of the Global Notes will be used for general corporate purposes, which may include the payment of existing debt.