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PBR » Topics » 32.2 PifCo

This excerpt taken from the PBR 6-K filed Mar 31, 2009.

32.2 PifCo

On February 11, 2009, Petrobras International Finance Company (PifCo), a wholly owned subsidy of Petrobras, completed the issue of US$ 1,5 billion Global Notes on the international capitals market, with maturity on March 15, 2019, an interest rate of 7,875% p.a. and half-yearly payment of interest as from September 1, 2009. The funds raised will be used for general corporate purposes, including financing the Petrobras Business Plan 2009-2013.

This financing had issuing costs estimated at US$ 6 million, a premium of US$ 26 million and an effective tax rate of 8,187% p.a. Global Notes constitute unsecured and unsubordinated obligations for PifCo and have the complete, unconditional guarantee of Petrobras.

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Table of Contents

This excerpt taken from the PBR 6-K filed Sep 29, 2006.

PIFCo

The following table contains the consolidated ratios of earnings to fixed charges of PIFCo for the periods indicated determined in accordance to US GAAP:

 

Year Ended December 31,

Six Months Ended
June 30, 2006

 

2001

2002

2003

2004

2005

Ratio of earnings to fixed charges(1)

0.89

0.77

0.99

0.91

0.97

0.98

 

____________________________

(1)

Earnings were inadequate to cover fixed charges by U.S.$20.3 million in the year ended December 31, 2001, U.S.$65.5 million in the year ended December 31, 2002, U.S.$3.0 million in the year ended December 31, 2003, U.S.$59.1 million in the year ended December 31, 2004, U.S.$27.8 million in the year ended December 31, 2005 and U.S.$9.1 million in the six-month period ended June 30, 2006.

EXCERPTS ON THIS PAGE:

6-K
Mar 31, 2009
6-K
Sep 29, 2006

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