Brazil's state-controlled Petróleo Brasileiro SA - Petrobras said its subsidiary Petrobras Global Finance BV will settle the tender offer for 4.375% global notes on March 21. The tender offer expired on March 18 and was commenced on March 12.
The notes, which had a tendered amount of $1.44 billion from the initial $3.12 billion offer, were initially due in May 2023.
The Petrobras unit tapped BNP Paribas Securities Corp., Banco Bradesco BBI SA, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc. and Santander Investment Securities Inc. as lead dealer managers.
In a separate statement, Petrobras said the $3 billion offering of securities in the international capital market was composed of $750 million for the reopening of 2029 notes with an interest of 5.95% and $2.25 billion from the issuance of 2049 notes with an interest of 6.9%.
Petrobras said the issuance was three times oversubscribed, with 467 orders from 305 investors from the United States, Europe and Latin America, that allowed the security to be priced at the lowest yield.
Proceeds will be used to fund the tender offers announced on March 12, which included global waterfall notes.