May 19 Investment management firm EIG Management Co added Brazil's engineering conglomerate Odebrecht SA and a few other shipyards in its $221 million fraud suit against Petroleo Brasileiro SA. EIG, in a filing on Wednesday, alleged that Odebrecht SA and other shipyards along with Petrobras misled the firm to invest over $221 million to purchase... Continue Reading →
Petrobras announces the pricing of global notes and increase of waterfall tender cap
Rio de Janeiro, May 18, 2016 – Petróleo Brasileiro S.A. – Petrobras announces the pricing of global notes denominated in U.S. Dollars to be issued by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”). The Notes will be unsecured obligations of PGF and will be fully and unconditionally guaranteed by Petrobras. Closing is expected to... Continue Reading →
Brazil regulator renews two Petrobras offshore leases for 27 years
May 17 Brazilian petroleum regulator ANP said on Tuesday that it extended state-run oil company Petroleo Brasileiro SA's concessions to explore and produce oil from the Marlim and Voador offshore fields for 27 years, to 2052. The extensions were made to help facilitate new investment in the fields, which require new wells, production equipment and... Continue Reading →
UPDATE 3-Petrobras tests investor sentiment with $6.75 bln bond sale
May 17 State-controlled Petróleo Brasileiro SA raised $6.75 billion on Tuesday through a sale of five- and 10-year dollar-denominated bonds, in a closely watched return to global capital markets after the suspension of Brazilian President Dilma Rousseff. The bond sale is the first by any Brazilian company since last June and the first to test... Continue Reading →
UPDATE 2-Petrobras to sell new bonds, repurchase up to $3 bln in debt
State-controlled Petróleo Brasileiro SA plans to sell five- and 10-year dollar-denominated bonds as early as Tuesday, the first global offering of bonds by any Brazilian company since last June, as the debt-laden Brazilian oil producer seeks to ease repayment risk in coming years. Rio de Janeiro-based Petrobras announced the offering in a securities filing, alongside... Continue Reading →
Petrobras announces offering of Global Notes and Commencement of Offers to Purchase and Consent Solicitation
Rio de Janeiro, Brazil – May 17, 2016 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) hereby announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”), plans to offer global notes in one or more series (the “Notes”), subject to market and other conditions. The Notes will be unsecured obligations of PGF and... Continue Reading →
UPDATE 1-Petrobras selling benchmark dollar bond
May 17, 2016 Reuters By Mike Gambale and Paul Kilby NEW YORK, May 17 (IFR) - Brazil's Petrobras Global Finance is looking to sell a two-part US dollar benchmark bond on Tuesday, the first international issue from a Brazilian corporate since June last year. Active bookrunners BB Securities, JP Morgan, Bank of America Merrill Lynch... Continue Reading →
Window opens for Brazil’s first corporate bonds of year
NEW YORK, May 16 (IFR) - The Senate's decision to put former president Dilma Rousseff on trial last week and replace her with market friendly Michel Temer has opened a bond issuance window for Brazilian borrowers seeking to take advantage of recent spread tightening. Petrobras is on the top of the list of possible issuers... Continue Reading →
Former Bunge Brasil CEO Parente picked to run Petrobras
Brazil's interim President Michel Temer has decided to appoint engineer and former Bunge executive Pedro Parente to be chief executive of ailing state-run oil company Petrobras, O Globo newspaper reported on Monday. Parente was chief of staff of former president Fernando Henrique Cardoso, during whose administration he successfully managed a severe energy crisis that required... Continue Reading →
Clarification of News Item: Brookfield offer for Petrobras gas pipelines
Rio de Janeiro, May 13, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 202/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 202/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published today in the Economia & Negócios (Economics & Business) section of the newspaper O Estado de São Paulo, entitled Brookfield... Continue Reading →
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