Petrobras welcomed in sterling as deal reaches £700m

Petrobras, the Brazilian national oil company, completed the second leg of its European funding exercise today with a £700m 15 year issue that was priced at 370bp over Gilts.

  • 02 Dec 2011

The lead managers declined to comment, citing SEC restrictions, but the sale clearly went well, as evidenced by the large size for the sterling market and pricing at the tight end of the 370bp-375bp guidance over the March 2025 Gilt.

The sterling bond is part of a funding foray ...

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5 Citi 3,271.60 22 5.00%

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5 ING 1,374.07 4 6.82%

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2 JPMorgan 860.42 6 7.87%
3 Citi 822.27 6 7.52%
4 Morgan Stanley 766.25 5 7.01%
5 BNP Paribas 559.52 3 5.12%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 BNP Paribas 2,219.30 7 11.30%
2 UniCredit 1,892.23 6 9.63%
3 SG Corporate & Investment Banking 1,432.51 5 7.29%
4 Bank of America Merrill Lynch 1,411.01 4 7.18%
5 ING 1,374.07 4 7.00%