Petrobras Announces Global Bond Repurchase Offer of Up to $3 Billion

Written by Paulo Nogueira

Published on 01/07/2019 at 11:55

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Petrobras Announced That Its Subsidiary Petrobras Global Finance BV Will Launch Two Global Bond Buyback Offers With Maturities Between 2021 and 2044

Petrobras is opening two buyback offers for bonds abroad, one of the “Any-and-all” type for the entire outstanding amount of certain bonds in euros and pounds with varying maturities; and another, the “Waterfall”, in dollars, up to the limit of US$ 3 billion less the total payment made in the first. The bonds are from Petrobras Global Finance B.V. – PGF.

If the amount offered by the bondholders causes the Waterfall Buyback Offer to exceed the limit of US$ 3 billion, the bonds validly delivered and accepted for repurchase will be repurchased following a priority order; less the payment made in the Any-and-all offer.

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Petrobras Puts Abreu e Lima Refinery Up for Sale

Petrobras started on the morning of June 28, the formal sale of four of the eight refineries it intends to divest. The process will be divided into two phases and is expected to be completed in 2021. The divestment will reduce the state-owned refining park by half, with 1.1 million barrels per day of capacity reduced. The package also includes logistical assets, which will be transferred to the new owners. The deadline to express interest in the assets is until August 16.

Petrobras Announces Global Bond Repurchase Offer of Up to $3 Billion

Petrobras Announced That Its Subsidiary Petrobras Global Finance BV Will Launch Two Global Bond Buyback Offers With Maturities Between 2021 and 2044

Petrobras Puts Abreu e Lima Refinery Up for Sale

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Petrobras Announces Global Bond Repurchase Offer of Up to $3 Billion

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A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

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