Bloomberg News

Petrobras to Sell $7 Billion in Bonds in Overseas Markets Today

February 02, 2012

Feb. 1 (Bloomberg) -- Petroleo Brasileiro SA, Brazil’s state-controlled oil producer, plans to sell $7 billion in bonds in overseas markets as soon as today, according to a person familiar with the transaction.

Petrobras plans to sell $1.25 billion of new three-year bonds to yield 275 basis points, or 2.75 percentage points, above U.S. Treasuries, and $1.75 billion of five-year debt at a spread of 290 basis points. The company also plans to sell $2.75 billion more of its bonds maturing in 2021 to yield 295 basis points above Treasuries, and $1.25 billion more of the 2041 securities at a spread of 295 basis points, the person said.

--Editor: Glenn J. Kalinoski

#<129514.3938884.># -0- Feb/01/2012 13:53 GMT

To contact the reporter on this story: Veronica Navarro Espinosa in New York at

To contact the editor responsible for this story: David Papadopoulos at

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