Petrobras informs that the company’s Executive Board approved last Thursday (18) the 1st issuance of book-entry commercial notes in the amount of up to R$ 3 billion.
The funds raised will be used to reinforce cash for use in the ordinary course of the state-owned company’s business.
In a material fact sent to the Securities and Exchange Commission (CVM), the company details that the notes, without real and personal guarantee, will be issued in up to two series that will be subject to public distribution, with restricted distribution efforts, under a mixed guarantee regime firm and best placement efforts.
The Issuance will comprise up to 3 million Book-entry Commercial Notes, with a unit face value of R$ 1 thousand.
The Notes of the first series will have a term of 2,741 days from the date of issuance, that is, August 25, 2022, therefore expiring on February 25, 2030; and the second series Notes will have a term of 3,653 days, expiring on August 25, 2032.
Partial distribution of the Book-entry Commercial Notes will be allowed, provided that there is a placement of at least R$ 2 billion.
If the Minimum Amount is reached and the totality of the Book-entry Commercial Notes is not distributed by the end of the placement period, the Book-entry Commercial Notes that are not placed with professional investors within the scope of the Offer will be cancelled.
The Notes of the first series will have a surcharge, to be defined in the bookbuilding procedure, and, in any case, limited to a maximum of 1.65% per annum.
The second series Notes will have a maximum spread of 1.90% per year.
Source: CNN Brasil
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