Shearman & Sterling advised Bradesco BBI, Citigroup, Deutsche Bank Securities, Morgan Stanley, Scotiabank, Safra and Standard Chartered  in connection with Petrobras Global Finance’s (PGF) waterfall tender offer for PGF notes for an aggregate price of $4 billion. The offering was divided in two Tender Groups, each with $2 billion worth of notes.

Tender Group 1 Notes included 3.750% global notes due January 2021, 4.25% global notes due October 2023, 6.125% global notes due January 2022, 4.375% global notes due May 2023, 5.375% global notes due January 2021.

Tender Group 2 Notes included 8.375% global notes due May 2021 and 5.625% global notes due May 2043 6.750% global notes due January 2041 6.875% global notes due January 2040 5.999% global notes due January 2028 5.299% global notes due January 2025.