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Petrobras Wants to Buy Back US$ 1 Billion in Bonds

Brazil’s state-controlled oil company Petróleo Brasileiro S.A., better known as Petrobras announces that its wholly owned subsidiary Petrobras International Finance Corporation (PIFCo) has commenced a cash tender offer for five series of notes.

It intends to repurchase up to US$ 1 billion in dollar-denominated bonds. The offer expires at 5 pm of July 24, New York time.

PIFCo has retained The Bank of New York as depositary for the offers, The Bank of New York (Luxembourg) S.A. to serve as Luxembourg agent for the offers and D.F. King & Co., Inc. as information agent.

According to the company, this transaction is intended to allow Petrobras and PIFCo to reduce overall indebtedness and take advantage of their strong cash flow generation.

In addition, since Petrobras and PIFCo received an investment grade rating in October 2005 by Moody’s Investor Service, they expect to have an ability to raise funds on more favorable terms than were available at the time PIFCo issued the original notes.

Petrobras produces 1.9 million barrels of oil a day, in Brazil alone. When its foreign production is included, this amount goes up to 2.3 million barrels. Record oil prices this year have represented a bonanza for the state company.

The notes being bought back include the 12.375% bond maturing April 1st, 2008; the 9.875% bond that matures May 9, 2008; the 9.75% bond with July 6, 2011 maturity date; the 9.125% bond maturing July 2, 2013; and also the 8.375% percent bond whose maturity is December 10, 2018.

Requests for documents may be directed to D.F. King & Co., Inc. by telephone at (212) 269-5550 for banks and brokers or at (800) 859-8508 for all others, or in writing at 48 Wall Street, 22nd Floor, New York, New York 10005.

Petróleo Brasileiro S.A. – www.petrobras.com.br

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  • Show Comments (9)

  • Mamadou young

    Gold and Diamond Offer
    our company have about 250 kg of au metal gold dust for sale as well as 12,000 carats of rough uncut Diamonds .
    I shall furnish you with details as soon as you indicate your interest.just contact me back with my e-mail here (Mamadou_young@live.com) you can also drop me your mail and skype here so that i will use it to contact you back
    Thanks,
    Mamadou

  • Gopinath Perumal

    Petrobras Bonds 1959
    We have a seller who is interested in selling Petrobras bonds of 1959 and is currently valued at 1.2 billion USD. The sell price is 1 billion USD. Interested buyers please respond to shivantrade@gmail.com

  • Alvaro Rodriguez

    De interes
    Estimados Señores:
    Por medio de la presente le contesto su anuncio de compra de bonos de
    un cliente Petrobras de 1959 serie 4ta, unico dueño
    Espero su pronta respuesta
    Muy atentamente

  • Elio

    Interesse
    Salve sono interessato ai vostri titoli petrobrass, se fortemente interessati alla vendita comunicare quantitÀƒÂ  e prezzo.

    Distinti Saluti.

    Elio.
    full.trade.group@gmail.com

  • gianluca dissegna

    sono interessato alla vendita, OA Convertire in denaro delle Obbligazioni al portatore Petrobras serie 4 del 1958. vorrei informazioni sulla Procedura. mail.grazie alla mia comunicare

  • Diego Marin

    Consulta
    i represented the onwner of 8400 cruceiros in notes serials 4 of 1954 “ao portador ” to be used as garanty or any kind off sales. comunicate with immediacy to my mail. we are interested to financial accounts.

  • Daniel

    consulta
    Deseo saber como hacer para vender una cantidad importante de Bonos Petrobras serie 4 1959 en mi poder…por favor escribanme a schiavoni@radainvest.com.ar Gracias

  • Patricia Duncan

    Petrobra’s bonds
    I have a client who is interested in converting his bonds into cash for a building project. He owns Petrobra’s Petroleo Brasileiro, SA, numbered 488350; “Obrigacao Ao Portador; 3 Serie; back of bonds 5 stamps and a date stamp of 09 Jun 2004.

    Can you tell me the value and how to convert them into cash for my client.

    You can reach me by phone at 386-753-9516 in Florida or my cell 407-509-8129, or by email.

    Thank you,
    Patricia Duncan

  • Ms.Marsha A. Brooks / Aseonyn

    CEO
    I would like to know how to validate Petrobras Series 3.I also need a contact number for the Petrobras to discuss other business matters.
    If you send an email to me also include all contact information along with names and telephone numbers.

    ThankYou,
    Ms. Brooks

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