Brazil's Petrobras to sell $5bn in global bonds

Brazilian state-owned oil and gas giant Petrobras said Tuesday that it will sell 5 billion U.S. dollars' worth of bonds to fund its 2013-2017 business management plan. The bonds, issued by Petrobras Global Finance, a subsidiary, are divided into the four tranches of four-, seven-, 11- and 20-year notes, and sales are expected to close on Jan. 14, the company said in a statement. The four-, seven- and 11-year notes will be denominated in euros, and the 20-year notes in sterling pounds, the company said. Petrobras' four-year bonds amount to 1.5 billion euros and will reach maturity on Jan. 15, 2018. The 750 million euros of seven-year notes will mature in 2021, the 800 million euros of 11-year notes in 2025, and the 600 million pounds of 20-year notes in 2034. The statement said the yields range from 2.829 percent for 2018 expiry to 6.732 percent for 2034 expiry.