Shearman & Sterling LLP multinational law firm headquartered in New York City, United States.

News Jan 30, 2017

Shearman & Sterling Advises on Petrobras Global Finance’s $4 Billion Shelf Takedown and $6 Billion Tender Offer of Global Notes

Shearman & Sterling represented Banco Bradesco BBI S.A., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Itau BBA USA Securities, Inc. and Morgan Stanley & Co. LLC in connection with a shelf takedown consisting of US$2 billion of 6.125% global notes due 2022 and US$2 billion of 7.375% global notes due 2027. The global notes will be unconditionally guaranteed by Petróleo Brasileiro S.A.—PETROBRAS. 

Shearman & Sterling also represented Banco Bradesco BBI S.A., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Itau BBA USA Securities, Inc. and Morgan Stanley & Co. LLC as dealer managers in connection with Petrobras Global Finance B.V.’s tender offer for up to US$6 billion of certain of its outstanding series of global notes.

The following Shearman & Sterling team advised the underwriters in this transaction: partner Stuart Fleischmann (New York-Capital Markets); and associate Flavio Averbug (New York-Capital Markets).

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