Petrobras' global bond issue recognized in new award

Petrobras received the Latin America Bond Awards, offered by Global Capital, which recognizes the most important institutions and financial operations in the Latin American market, in the Quasi-Sovereign Bond Deal of the Year category for the global bond issue carried out in July 2023. The category covers deals involving quasi-sovereign bonds (issued by state-owned companies or companies with the state as a shareholder or controller).

The US$1.25 billion issue had significant repercussions in the market, reaching a demand of US$6.4 billion, five times the value of the offer. In the end, more than 300 investors from around the world signed up for the offer, which was announced at a time when the company had not entered the debt market for two years.

For Sérgio Caetano Leite, Petrobras' financial and investor relations director, this represents investors' recognition of Petrobras as a reliable company.  "The issue of these bonds, which exceeded our expectations, and the award for this operation reinforce the market's confidence in the new management and the company's financial indicators," he said. The same operation had already been recognized in another award from the GFC Media Group in December 2023.

The issue also stood out for using ESG criteria in choosing banks and compressing rates, which is considered the highest in 2023 for a Latin American issuer. The rate obtained was 6.625% per year, starting at 7.25%. The operation registered the lowest spread (difference concerning US Treasury rates) for a Petrobras issue in the last 10 years.

The list of winners was announced on Tuesday, April 16, at a ceremony in New York. This is an unprecedented award - in addition to the global award that takes place every year, in 2024, Global Capital will hold the first edition of its award specifically focused on Latin America.
 
About the awards

In its first edition, the GlobalCapital Latin America Bond Awards recognizes the foremost Latin American debt market leaders. The first edition recognizes performance during the 2023 calendar year. It is based on a comprehensive survey in which the market itself nominates the candidates for the award.