Nachrichten April 14, 2022

Petrobras Cash Tender Offers

Shearman & Sterling represented the dealer managers in connection with the abbreviated five-day droppable cash tender offers by Petróleo Brasileiro S.A. – Petrobras, one of the world’s largest integrated oil and gas companies, acting through its Dutch finance subsidiary Petrobras Global Finance B.V. (PGF), for 19 series of PGF´s global notes denominated in U.S. dollars, euros and pounds sterling with varying interest rates and maturities, divided in two tender groups. The aggregate amount paid by PGF to holders whose notes were accepted for purchase, excluding accrued and unpaid interest, was approximately $2 billion. The tender offers launched on April 5, 2022, expired on April 11, 2022, and settled on April 14, 2022. The dealer managers were BNP Paribas Securities Corp., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC and Scotia Capital (USA) Inc.

The Shearman & Sterling team below included associate Sydney Kane (New York–Tax).

The Team


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