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Bond Market News
Petrobras to Buyback $3.5 Billion of Bonds
April 1, 2021
Brazil state-owned oil company Petrobras is looking to buyback $3.5bn worth of bonds with maturities across 2024s to 2050s. The 12 series of bonds include its 6.25% 2024s, 5.093% 2030s, 5.625% 2043s and 6.75% 2050s. At the top of the list, Petrobras placed the 2030s and 2043s followed by the 2050s and 6.9% 2049s. The deadline of the offer is April 7. The deal managers of the buyback are BNP Paribas, Bradesco, Citi, Crédit Agricole, Mizuho and Morgan Stanley.
Petrobras repurchased in October 2020 $1.95bn in 2023s and 2029s after raising $1bn via a tap to its 5.6% 2031s; and in September, $3.98bn worth of 2022s and 2049s, as wells as carrying out a like-for-like swap of $4.04bn unregistered 5.093% 2030s for notes registered with the SEC. Petrobras dollar bonds were slightly higher with its 5.299% 2025s up 0.2 to 109.95, yielding 2.54% and its 6.75% 2041s up 0.91 to 110.625, yielding 5.84%.
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