17.08.201713:04:00UTC+00PETROBRAS: Company Issues R$ 4.988 Billion In Debentures

After closing its book-building procedures, the Brazilian state-owned oil company Petrobras said it would auction R$ 4.988 billion (US$ 1,574.99 billion) in a simple non-convertible debenture issue.

The transaction is expected to be settled by the end of the month and will be issued in up to four series. Petrobras' board of directors had already approved the issue on July 27.

According to the company, R$ 301 million will be allocated in the first series, at a negative rate of 0.05% per year of the IPCA Treasury for 2022. In the second series, R$ 1.089 billion will be allocated at a 0.30% rate of the IPCA Treasury for 2024.

In the third series, the volume will be R$ 3.346 billion, with 106.75% a rate of the CDI. In the fourth series, the volume will be R$ 251.69 million at a 0.90% rate of the IPCA Treasury for 2024.