Petrobras Announces Global Bond Offering and Buyback in Strategic Move in Financial Market

Written by Fabio Lucas Carvalho

Published on 03/09/2024 at 11:37

Updated on 03/09/2024 at 11:52

Foto: Reprodução

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Petrobras announced that its wholly-owned subsidiary, Petrobras Global Finance B.V. (PGF), intends to launch a new series of bonds in the international market, an issuance subject to market conditions. These bonds will mature on January 13, 2035, and will have a full and unconditional guarantee from Petrobras. The Petrobras, one of the largest companies in Brazil, is always attentive to the movements of the financial market, and this new issuance reflects its financial management strategy.

In addition, Petrobras informed about the beginning of a buyback offer, made by PGF, of the bonds specified in the table below, with a total limit of US$ 1 billion. If the amount offered by investors for a specific bond exceeds this limit, the offer will be canceled for that bond, continuing to the following bonds in order of priority, until the limit of US$ 1 billion is reached, with no partial acceptance of any bond.

The buyback offer expires at 5:00 PM (New York time) on September 9, 2024 (Expiration Date). Holders of the bonds that are validly submitted, not withdrawn and accepted by that date, will be eligible to receive payment according to the terms and conditions described in the table, with settlement expected on the fourth business day after the Expiration Date (Settlement Date). Additionally, these holders will also receive the accrued interest up to the Settlement Date.

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These operations are aligned with the debt management policy of Petrobras, reaffirming its commitment to maintain indebtedness at healthy levels, as expected from companies of Petrobras’ size in the financial market.

The operations will be conducted by BofA Securities, Inc., Bradesco BBI S.A., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, and Morgan Stanley & Co. LLC. Documents related to the buyback offers can be accessed through the link: http://www.gbsc-usa.com/Petrobras.

Petrobras Announces Global Bond Offering and Buyback in Strategic Move in Financial Market

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