Petrobras Completes Bond Repurchase Offer

Source: www.gulfoilandgas.com 6/11/2021, Location: South America

Petrobras, in addition to the statement released on June 8, 2021, informs that it has concluded the global bond repurchase offer made by its wholly owned subsidiary Petrobras Global Finance BV (PGF).

The total amount offered by investors exceeded the US$2.5 billion limit previously established in the repurchase offer. As a result, the volume offered for some of the bonds was not accepted, in accordance with the terms of the offer.

The amount of principal validly delivered by investors, excluding unpaid capitalized interest, was $2.1 billion. The total amount paid to these investors was $2.45 billion, considering the prices offered by Petrobras and excluding interest capitalized up to the settlement date.

After the global bond issuance, completed on June 10, 2021, and the completion of the current repurchase offer, the gross debt reduction of the transaction will be in the order of US$0.68 billion.


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