Petrobras in $1.25 Billion Bond Offering

Cleary Gottlieb represented long-standing client Petróleo Brasileiro S.A. (Petrobras) in connection with the SEC-registered offering of $1.25 billion aggregate principal amount of 6.5% notes due 2033.

The notes were issued by Petrobras’ Dutch finance subsidiary, Petrobras Global Finance B.V. (PGF). The offering priced on June 26, 2023, and settled on July 3, 2023.

Banco BTG Pactual S.A. – Cayman Branch, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, ITAU BBA USA Securities Inc., MUFG Securities Americas Inc., Santander US Capital Markets LLC, Scotia Capital (USA) Inc., and UBS Securities LLC acted as joint bookrunners of the offering.

Petrobras is one of the world’s largest integrated oil and gas companies, engaging in a broad range of oil and gas activities. The firm has represented Petrobras for many years in significant SEC reporting, corporate governance, financing, and litigation matters.