This excerpt taken from the PBR 6-K filed Jul 26, 2006.
(Rio de Janeiro, July 25, 2006). PETRÓLEO BRASILEIRO S/A - PETROBRAS, [Bovespa: PETR3/PETR4, NYSE: PBR/PBRA, Latibex: XPBR/XPBRA, BCBA: APBR/APBRA], a Brazilian international energy company, reports that, as a result of its debt repurchase offer announced on July 18, 2006, the amount of notes tendered for the five series issued by its wholly owned subsidiary Petrobras International Finance Company (PIFCo), listed in the table below, was US$ 888.26 million. considering the notes previously purchased by Petrobras and its affiliates, also included in the tender, the total value reached US$ 1,215.66 million.
As a result, the principal amount outstanding of the notes will be changed from to US$ 2,950.00 million to US$ 1,734.34 million, reducing and simplifying the debt profile of the company. The offers expired at 5:00 p.m., New York time, on Monday, July 24, 2006, as originally scheduled.
The purchase price for each US$ 1,000 principal amount of notes is listed in the table below for each series. This amount, plus accrued and unpaid interest from the last interest payment date to, but excluding, the settlement date, will be paid by PIFCo on the settlement date, which will be July 27, 2006.
** All notes validly tendered and not withdrawn in the tender offers were accepted by PIFCo.
PIFCo retained Morgan Stanley & Co., Incorporated and UBS Securities LLC to serve as dealer managers for the offers, The Bank of New York to serve as depositary for the offers, The Bank of New York (Luxembourg) S.A. to serve as Luxembourg agent for the offers and D.F. King & Co., Inc. to serve as information agent for the offers.
This announcement does not constitute an offer to purchase or a solicitation of an offer to sell securities. The offers were made solely by the offer to purchase and related letter of transmittal. The offers were made only in the jurisdictions in which they were permitted to be made under applicable law.