Petrobras launches US$6.75bn two-part bond - lead

martes 17 de mayo de 2016 14:05 GYT

By Paul Kilby

NEW YORK, May 17 (IFR) - Petrobras has launched a US$6.75bn two-part bond sale after generating a book of close to US$20bn, according to leads.

The Brazilian state-controlled oil company has set a final yield of 8.625% on a US$5bn five-year, and a 9% yield on a US$1.75bn 10-year bond.

That is tight to guidance of 8.75% area on the five-year and 9.125% area on the 10-year, which were initially marketed at talk of 9% area 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.

Proceeds will fund up to US$3bn of a basket of bonds maturing between 2017 and 2019 and US$576.78m in outstanding 8.375% 2018s. The SEC-registered deal is rated B3/B+/BB. (Reporting By Paul Kilby; editing by Shankar Ramakrishnan)