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This excerpt taken from the PBR 6-K filed Mar 18, 2005. (e) Funding by PIFCo On September 15, 2004, the subsidiary PETROBRAS INTERNATIONAL FINANCE COMPANY (PIFCo) concluded placement in the international capital market of Global Notes amounting to US$ 600 million for 98,638% of their face value, with coupon of 7,75% per year, and maturity of 10 years. The Company intends to use the funds raised with this security issue for corporate purposes and meet its strategy of extending terms and reducing the cost of its debt. |
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