Order books for Petrobras bond near US$20bn - lead

martes 17 de mayo de 2016 12:54 GYT

By Paul Kilby

NEW YORK, May 17 (IFR) - Books on Petrobras's bond were nearing US$20bn on Tuesday as the state-owned oil company approached investors with the first international deal from a Brazilian corporate since June.

Strong demand allowed the borrower to squeeze guidance to 8.75% area on a five-year and 9.125% area on a 10-year.

That is tight to initial price thoughts of 9% and 9.25% area, respectively.

Active bookrunners BB Securities, JP Morgan, Bank of America Merrill Lynch and Santander are expected to price the bond on Tuesday. (Reporting By Paul Kilby; editing by Shankar Ramakrishnan)