Shearman & Sterling represented Citigroup Global Markets Inc., HSBC Securities (USA) LLC, J.P. Morgan Securities Inc., Santander Investment Securities Inc., BB Securities Ltd. and SG Americas LLC, as underwriters, in connection with Petrobras International Finance Company's offering of US$2,500,000,000 aggregate principal amount of its 5.75% Global Notes due 2020 and $US1,500,000,000 aggregate principal amount of its 6.875% Global Notes due 2040. These offerings represent the largest debt sale out of Brazil since the start of this decade.

The Shearman team included partners Stuart Fleischmann (New York-Capital Markets) and Don J. Lonczak (Washington, DC-Tax), associates Sanjeev Magoon (Washington, DC-Tax), Erica Tso (New York-Capital Markets) and Samara Abrams (New York-Capital Markets), international associate Gustavo Gonzalez (New York-Capital Markets) and legal assistant Kristi Anne Nadvornik (New York-Capital Markets).