São Paulo – This Thursday (27th), the Brazilian oil company Petrobras informed that it has completed a bond issue of US$ 6 billion on the international capital market. The bonds mature in five, ten and thirty years.
According to the company, this was the largest issue of bonds ever by a Brazilian company on the international market. According to Petrobras, the bond issue was 2.5 times oversubscribed and 463 investors from the United States, Europe, Asia and Latin America participated.
The issue included US$ 2.5 billion in bonds maturing in 2016, US$ 2.5 billion in bonds maturing in 2021 and US$ 1 billion in bonds maturing in 2041. Interest will be paid on January 27th and July 27th each year, starting on July 27th, 2011.
The company added that the capital will be allocated to the funding of investment provided for in its business plan for the 2010 to 2014 period. The operation was carried out by the Petrobras International Finance Company (PifCo), a wholly-owned subsidiary of the Brazilian company.
*Translated by Gabriel Pomerancblum
