January 9, 2017 / 8:55 PM / 7 months ago

Brazil's Petrobras launches US$4bn two-part bond: lead

NEW YORK, Jan 9 (IFR) - Brazil's Petrobras launched a US$4bn two-part bond on Monday as the debt laden company sought to term out up to US$2bn in existing debt.

The state-owned oil entity set final yields of 6.125% on a US$2bn five-year and 7.375% on US$2bn 10-year after combined order books reached over US$20bn earlier in the day.

Pricing comes at the tight of guidance of 6.25% area (+/- 0.125bp) on the shorter-dated bond and 7.50% area (+/- 0.125%) on the long-dated tranche.

The deal is set to price later on Monday. Bradesco, Citigroup, HSBC, Itau and Morgan Stanley are acting as leads. Expected ratings on the SEC-registered notes are B2/B+ (stable/negative). (Reporting By Paul Kilby; editing by Shankar Ramakrishnan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below