Shearman & Sterling represented the underwriters and dealer-managers in connection with Petrobras’ $3 billion SEC-registered notes offering and concurrent liability management transaction.

The notes offering consisted of an offering of $750 million aggregate principal amount of 5.750% global notes due 2029 and $2.25 billion aggregate principal amount of 6.900% global notes due 2049. The notes, issued by Petrobras Global Finance B.V., are guaranteed by Petrobras and will be listed on the New York Stock Exchange. Proceeds from the notes offering will be used to repurchase 10 different series of its outstanding notes pursuant to concurrent cash tender offers.

The firm represented Banco Bradesco BBI S.A., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., Santander Investment Securities Inc., who acted as joint book-running managers (and dealer-mangers), and ABN AMRO Securities (USA) LLC, BBVA Securities Inc., and Commerz Markets LLC, as co-managers (and co-dealer managers).

The team