Petrobras $4 billion bond issue

Overview:

• Petróleo Brasileiro (Petrobas) has reopened its latest $4 billion bond issue.
• The reopening consists of $1 billion 6.125% notes due 2022, $2 billion 7.375% notes due 2027 and $1 billion 7.250% notes due 2044.
• The issuance was undertaken by Petrobras's Dutch finance subsidiary, Petrobras Global Finance.
• The net proceeds of the sale will be used for redemption the price of its existing 2.75% global notes due January 2018, 5.875% global notes due March 2018 and 4.875% global notes due March 2018 and for repaying the existing debts.

Katrin Kostadinova - Data analyst