RIO DE JANEIRO, Brazil,
May 17, 2016 /PRNewswire/
-- Petróleo Brasileiro S.A. – Petrobras ("Petrobras") (NYSE:
PBR) hereby announces the pricing of global notes denominated in
U.S. Dollars to be issued by its wholly-owned subsidiary Petrobras
Global Finance B.V. ("PGF"). The Notes will be unsecured
obligations of PGF and will be fully and unconditionally guaranteed
by Petrobras. Closing is expected to occur on May 23, 2016.
The terms of the 8.375% Global Notes Due 2021 are as
follows:
- Issue: 8.375% Global Notes Due 2021
- Amount: U.S.$5,000,000,000
- Coupon: 8.375%
- Interest Payment Dates: May 23
and November 23 of each year,
commencing on November 23, 2016
- Issue price: 99.002%
- Yield to Investors: 8.625%
- Maturity: May 23, 2021
The terms of the 8.750% Global Notes Due 2026 are as
follows:
- Issue: 8.750% Global Notes Due 2026
- Amount: U.S.$1,750,000,000
- Coupon: 8.750%
- Interest Payment Dates: May 23
and November 23 of each year,
commencing on November 23, 2016
- Issue price: 98.374%
- Yield to Investors: 9.000%
- Maturity: May 23, 2026
PGF intends to use the net proceeds from the sale of the Notes
to repurchase notes validly tendered and accepted for purchase by
PGF in the previously announced waterfall tender offers (the
"Waterfall Tender Offers"), and to use any remaining net proceeds
for general corporate purposes.
In connection with the Waterfall Tender Offers, PGF hereby
announces that is has increased the waterfall tender cap from
US$3.0 billion to US$6.0 billion. In addition, PGF hereby corrects
the principal amount of US$2,750,000,000 of its 7.875% Global Notes due
March 2019 that was incorrectly
transcribed as US$1,500,000,000 in
the Form 6-K furnished by PGF to the SEC earlier on May 17, 2016. Except as described in this
press release, all other terms of the previously announced offers
to purchase and consent solicitation (the "Offers to Purchase and
Consent Solicitation") as described in the offer to purchase and
consent solicitation statement dated May 17,
2016 (as may be amended or supplemented from time to time,
the "Statement"), and the related consent and letter of transmittal
dated May 17, 2016 (as may be amended
or supplemented from time to time, the "Consent and Letter of
Transmittal") remain unchanged.
PGF has engaged BB Securities Limited, J.P. Morgan Securities
LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and
Santander Investment Securities Inc. to act as dealer managers and
solicitation agents (the "Dealer Managers") in connection with the
Offers to Purchase and Consent Solicitation. Global
Bondholder Services Corporation is acting as the depositary and
information agent for the Offers to Purchase and Consent
Solicitation.
The Offers to Purchase and Consent Solicitation are not being
made to holders of notes in any jurisdiction in which PGF is aware
that the making of the Offers to Purchase and Consent Solicitation
or the acceptance of consents would not be in compliance with the
laws of such jurisdiction. In any jurisdiction in which the
securities laws or blue sky laws require the Offer to Purchase and
Consent Solicitation to be made by a licensed broker or dealer, the
respective Offer to Purchase and Consent Solicitation will be
deemed to be made on our behalf by the Dealer Managers or one or
more registered brokers or dealers that are licensed under the laws
of such jurisdiction. Any questions or requests for assistance
regarding the Offers to Purchase and the Consent Solicitation may
be directed to BB Securities Limited at +(44) 207 367 5832, J.P.
Morgan Securities LLC at +1 (866) 846-2874 (toll free) or +1 (212)
834-7279 (collect), Merrill Lynch, Pierce, Fenner & Smith
Incorporated at +1 (888) 292-0700 (toll-free) or +1 (646) 855-8988
(collect) or Santander Investment Securities Inc. at +1 (855)
404-3636 (toll-free) or +1 (212) 940-1442 (collect). Requests for
additional copies of the Statement, the Consent and Letter of
Transmittal and related documents may be directed to Global
Bondholder Services Corporation at +1 (866)-470-3900
(toll-free).
Neither the Statement nor any documents related to the Offers to
Purchase and Consent Solicitation have been filed with, and have
not been approved or reviewed by any federal or state securities
commission or regulatory authority of any country. No authority has
passed upon the accuracy or adequacy of the Statement or any
documents related to the Offers to Purchase and Consent
Solicitation, and it is unlawful and may be a criminal offense to
make any representation to the contrary.
Forward-Looking Statements
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended (Securities Act), and Section 21E of the Securities
Exchange Act of 1934, as amended (Exchange Act) that are not based
on historical facts and are not assurances of future results.
No assurance can be given that the transactions described herein
will be consummated or as to the ultimate terms of any such
transactions. All forward-looking statements are expressly
qualified in their entirety by this cautionary statement, and you
should not place reliance on any forward-looking statement
contained in this press release. We undertake no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information or future events or for any other
reason.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/petrobras-announces-the-pricing-of-global-notes-and-increase-of-waterfall-tender-cap-300270562.html
SOURCE Petroleo Brasileiro S.A. - Petrobras