Petroleo Brasileiro S.A. Petrobras Stock Price, News & Analysis

Petrobras (NYSE: PBR) announced the settlement of its US$1.0 billion 6.000% Global Notes due 2035 offering and the final results of cash tender offers for outstanding notes. The new notes, issued by Petrobras Global Finance B.V. (PGF), have a 6.000% coupon and 6.250% yield to investors, maturing on January 13, 2035.

PGF accepted for purchase approximately US$918.4 million in aggregate principal amount of various series of notes in the tender offers. The offers expired on September 9, 2024, and settled on September 13, 2024. This capital markets activity demonstrates Petrobras' active management of its debt profile and investor relations.

Petrobras (NYSE: PBR) announced the expiration and results of cash tender offers by its subsidiary, Petrobras Global Finance B.V. (PGF), for six series of notes. The offers expired on September 9, 2024, with settlement expected on September 13, 2024. PGF accepted all validly tendered notes and expects to accept those delivered by the guaranteed delivery date of September 11, 2024.

The total cash payment for the accepted notes will be approximately US$935.8 million, funded with cash on hand. The tender offers targeted notes with maturities ranging from 2030 to 2051, with acceptance priority levels assigned to each series. The principal amounts tendered ranged from US$19,915,000 to US$218,989,000 across the different series.

Petrobras (NYSE: PBR) announced that its subsidiary, Petrobras Global Finance B.V. (PGF), has launched a new series of U.S. dollar-denominated global notes and cash tender offers to purchase outstanding U.S. dollar-denominated notes. The new notes will be unsecured, guaranteed by Petrobras, and proceeds will be used to purchase tender notes and for general corporate purposes.

The tender offers aim to purchase up to $1.0 billion in certain notes, with varying acceptance priority levels and considerations. The offers will expire on September 9, 2024, with settlement expected by September 13, 2024. Conditions include the successful closure of the new notes offering and other customary conditions. BofA Securities, Bradesco BBI, HSBC, J.P. Morgan, Mizuho, and Morgan Stanley are acting as joint bookrunners and dealer managers.

The company sees this as part of its debt management strategy to maintain healthy debt levels. For more information, refer to the Offer Documents provided by the Dealer Managers or the SEC website.

SLB (NYSE: SLB) has secured a major contract from Petrobras (NYSE: PBR) for its OneSubsea™ joint venture to provide standardized, pre-salt subsea production systems for two oil fields in Brazil's Santos Basin. The contract covers the second development phase of the Atapu and Sepia fields, including the supply of vertical trees, subsea distribution units, control systems, and pipeline systems. Much of the technology will be produced and serviced locally at SLB OneSubsea's facilities in Brazil. This project will support the addition of two new FPSO platforms, P-84 (Atapu) and P-85 (Sepia), each with a daily production capacity of 225,000 barrels of oil and processing of 10 million cubic meters of gas.

Petróleo Brasileiro S.A. – Petrobras (NYSE: PBR) announced the final results of cash tender offers by its subsidiary, Petrobras Global Finance B.V. (PGF), for its outstanding notes. The Offers expired on July 12, 2022, and settled on July 15, 2022. PGF accepted valid tenders totaling approximately US$790.9 million for various notes, including those due between 2024 and 2051. The details of the accepted principal amounts range across multiple securities, with notable totals in categories such as the 6.250% Global Notes due in March 2024 and 5.500% Global Notes due in June 2051.

Petróleo Brasileiro S.A. – Petrobras (NYSE: PBR) has successfully completed its cash tender offers for various series of notes. The offers expired on July 12, 2022, and the settlement date is expected on July 15, 2022. A total cash payment of approximately US$796.2 million is expected for the notes accepted. The offers included two tender groups, with detailed principal amounts and acceptance levels outlined for each group. All conditions for the offers were satisfied by the expiration date, ensuring the smooth completion of the process.

Petróleo Brasileiro S.A. - Petrobras (NYSE: PBR) has announced cash tender offers for its outstanding notes through its subsidiary, Petrobras Global Finance B.V. The offers include various series of notes with consideration amounts detailed in the release. The offers are set to expire on July 12, 2022, at 5:00 p.m. New York City time, with a settlement date expected on July 15, 2022. The applicable exchange rates for the offers have been specified, and several dealer managers are engaged for the process. The announcement serves informational purposes and does not constitute an offer.