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PBR » Topics » 14.8 Raising of capital of PifCo

This excerpt taken from the PBR 6-K filed Jun 8, 2009.

14.8 Raising of capital of PifCo

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

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