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Petrobras announced that its wholly owned subsidiary, Petrobras Global Finance BV (PGF), intends to launch a new series of bonds on the international market, an issue subject to market conditions. These bonds will mature on January 13, 2035 and will have a full and unconditional guarantee from Petrobras. A Petrobras, one of the largest companies in Brazil, is always attentive to movements in the financial market, and this new issue reflects its financial management strategy.
In addition, Petrobras announced the start of a repurchase offer, carried out by the PGF, of the securities specified in the table below, with a total limit of US$ 1 billion. If the amount offered by investors in a specific security exceeds this overdrive, offer will be cancelled for that title, proceeding to the following titles in order of priority, until the limit of US$ 1 billion is reached, without there being partial acceptance of any title.
The repurchase offer expires at 17:00 p.m. (New York time) on September 09, 2024 (Expiration Date). Holders of Notes that are validly tendered, not withdrawn and accepted by such date will be eligible to receive payment in accordance with the terms and conditions described in the table, with settlement expected to occur on the fourth business day after the Expiration Date (Settlement Date). In addition, such holders will also receive accrued interest through the Settlement Date.
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These operations are in line with the debt management policy of Petrobras, reaffirming its commitment to maintaining debt at healthy levels, as expected by companies the size of Petrobras in the financial market.
The transactions will be conducted by BofA Securities, Inc., Bradesco BBI SA, HSBC Securities (USA) Inc., JP Morgan Securities LLC, Mizuho Securities USA LLC, and Morgan Stanley & Co. LLC. The documents related to the repurchase offers can be accessed through the link: http://www.gbsc-usa.com/Petrobras.
