Petrobras in $2 Billion Bond Offering

Cleary Gottlieb represented long-standing client Petróleo Brasileiro S.A. (Petrobras) in an SEC-registered notes offering.

The notes offering consisted of an offering of $1 billion aggregate principal amount of 5.125% global notes due 2030 and $1 billion aggregate principal amount of 6.25% global notes due 2036. The notes were issued by Petrobras’ Dutch finance subsidiary, Petrobras Global Finance B.V. (PGF) and unconditionally and irrevocably guaranteed by Petrobras. Petrobras intends to list the notes on the New York Stock Exchange. The offering priced on September 3, 2025, and closed on September 10, 2025.

PGF intends to use the net proceeds from the sale of the notes for general corporate purposes.

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.