Petrobras launches US$2.5bn 100-year bond at 8.45% yield

lunes 1 de junio de 2015 15:20 GYT

By Davide Scigliuzzo

NEW YORK, June 1 (IFR) - Brazil's state-run oil company Petrobras has launched a US$2.5bn 100-year bond at a final yield of 8.45%, according to market sources.

Final pricing for the deal came at the tight end of guidance of 8.55% area (+/-10bp) and a whopping 40bp inside initial price thoughts of 8.85% area released earlier on Monday.

The deal, rated Ba2/BBB-/BBB-, marks the company's first foray in the international debt markets since a wide-ranging corruption scandal.

Deutsche Bank and JP Morgan are the bookrunners on the transaction. (Reporting by Davide Scigliuzzo; Editing by Natalie Harrison)