Petrobras (PBR)

30.3 Raising of funds for PifCo

On October 30, 2009 the Petrobras International Finance Company - PifCo, concluded the issuing of US$ 4 billion in Global Notes on the international capitals market, with maturities on January 20, 2020 and January 20, 2040, interest rates of 5.75% and 6.875% p.a. and half-yearly payments of interest as from January 20, 2010. The funds raised were earmarked for settling the remaining balance in the amount of US$ 3,2 million of the bridge loans with a two year term raised at the beginning of the year, as well as for other corporate purposes.

This financing had issuing costs estimated at approximately US$ 18 million, a discount of US$ 47 million and effective interest rates of 5.93% and 7.04%, respectively. Global Notes constitute unsecured, unsubordinated obligations for PifCo and have the complete, unconditional guarantee of Petrobras.

14.10 Raising of funds for PifCo

On February 11, 2009, the 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 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 2009-2013 Petrobras Business Plan.

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.