May 17, 2016 / 6:07 PM / 2 years ago

Petrobras launches sale of $6.75 bln in five-, 10-year bonds

SAO PAULO, May 17 (Reuters) - State-controlled Petróleo Brasileiro SA launched on Tuesday a combined sale of five- and 10-year bonds worth $6.75 billion, the debt-laden Brazilian oil producer’s first in a year, two sources with direct knowledge of the situation said.

According to the sources, who requested anonymity since the transaction is in the works, Petrobras will raise $5 billion from the sale of five-year debt at a yield of 8.625 percent, and $1.75 billion with the 10-year portion at a yield of 9 percent.

Petrobras hired the investment-banking unit of Banco do Brasil SA to handle the transaction, alongside Bank of America Corp, JPMorgan Chase & Co and Banco Santander SA. (Reporting by Guillermo Parra-Bernal and Tatiana Bautzer; Editing by Bernard Orr)

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