Petrobras Launches $8.5B Six-part Bond

MarineLink.com
Monday, March 10, 2014

By Paul Kilby, IFR

Petrobras has launched a $8.5 billion six-bond offering after generating a $22 billion plus order book.

The trade was launched as a $1.6 billion three-year fixed at Treasuries plus 250bp, $1.4 billion three-year FRN at 3mL+236bp, $1.5 billion six-year fixed at plus 330bp, $500 millio six-year FRN at Libor plus 288bp, $2.5 billion 10-year at Treasuries plus 350bp, and $1 billion 30-year fixed at plus 360bp.

This comes after leads revised guidance to T+250-260bp on the three-year fixed-rate tranche, 3mL+236-246bp on the three-year FRN, T+330-340bp on the six-year fixed, 3mL+288-298bp on the 6-year FRN, T+350-360bp on the 10-year fixed, and T+360-370bp on the 30-year fixed-rate tranche. Initial price thoughts were T+260bp, 3mL+246bp, T+340bp, 3mL+298bp, T+360bp and T+370bp, respectively.

Ratings are on the SEC registered deal are Baa1/BBB/BBB. Bookrunners are BOCHK, BB Securities, Bradesco BBI, Citigroup, HSBC and JPMorgan. Comanagers are Banca IMI S.p.A and Scotiabank.

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Shell Resuming Nigeria EA Oil Production

Royal Dutch Shell said on Thursday it had resumed production of Nigerian EA crude oil and lifted its force majeure on the grade after completing repairs to a mooring platform.

EU Bans Crimea Investment, Targets Oil, Cruise Sectors

Measures take effect on Saturday; aim is to keep pressure on Russia over Ukraine. The European Union banned investment in Crimea on Thursday, halting European

Hiab Switches to Dealer-based Distribution in Mexico

Hiab, part of Cargotec, and Consorcio Industrial Puebla S.A.P.I. de C.V. (CIPSA) have signed an agreement regarding a long-term distribution partnership in the Americas region.

Offshore Energy

Shell Resuming Nigeria EA Oil Production

Royal Dutch Shell said on Thursday it had resumed production of Nigerian EA crude oil and lifted its force majeure on the grade after completing repairs to a mooring platform.

EU Bans Crimea Investment, Targets Oil, Cruise Sectors

Measures take effect on Saturday; aim is to keep pressure on Russia over Ukraine. The European Union banned investment in Crimea on Thursday, halting European

Mermaid Wins Subsea Contract in Gulf of Thailand

Mermaid has secured a 2-year contract for its dive support vessel, ‘Mermaid Commander’, to provide subsea construction support in the Gulf of Thailand for a

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Port Authority Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1187 sec (8 req/sec)