Petrobras International Finance Company, A Wholly Owned Subsidiary Of Petroleo
Brasileiro S.A. - Petrobras, Announces Receipt Of Majority Consents From
Holders Of Its 9.125% Notes Due 2013
GEORGE TOWN, Cayman Islands, April 8, 2013
GEORGE TOWN, Cayman Islands, April 8, 2013 /PRNewswire/ --Petrobras
International Finance Company (the "Company" or "PifCo") announced that,
pursuant to its previously announced Consent Solicitation, it had received
valid consents (each one a "Consent") from holders of a majority of the
principal amount of the Company's 9.125% Notes due 2013 (CUSIP No.
71645WAG6/ISIN US71645WAG69) (the "2013 Notes") as of the new expiration time
for such series at 5:00 pm New York City time, on April 5, 2013 (the "New
Since the New Expiration Time has occurred with respect to the 2013 Notes,
such holders may not revoke their consents.
The Consent Solicitation is made on the terms and is subject to the conditions
set forth in the Consent Solicitation Statement dated March 11, 2013 (the
"Consent Solicitation Statement"), and in the accompanying Letter of Consent
(the "Letter of Consent").
The Company, Petrobras and the Trustee expect to execute a supplemental
indenture (the "New Supplemental Indenture") to effect the Proposed Amendments
with respect to the 2013 Notes promptly after the New Expiration Time.
J.P. Morgan Securities LLC ("J.P. Morgan") is the Solicitation Agent (the
"Solicitation Agent") for the Consent Solicitation, and Global Bondholder
Services Corporation is the Tabulation Agent (the "Tabulation Agent") and the
Information Agent for the Consent Solicitation.
On April 9, 2013, pursuant to the terms of the Consent Solicitation Statement,
the Company will pay to The Depository Trust Company or the Tabulation Agent
the aggregate Consent Payment due to each holder of the 2013 Notes who has
validly delivered (and not validly revoked) a Consent prior to the New
Expiration Time. The Consent Payment is $1.25 for each $1,000 in principal
amount of each of the 2013 Notes with respect to which a Consent has been
validly delivered prior to the New Expiration Time. Other than such Consent
Payment, holders of the 2013 Notes will receive no consideration for granting
any consent solicited pursuant to the Consent Solicitation Statement.
Any questions or requests for assistance regarding the expired Consent
Solicitation may be directed to J.P. Morgan at (866) 846-2874 (toll-free) or
(212) 834-2052 (collect). Requests for additional copies of the Consent
Solicitation Statement, the Letter of Consent and related documents may be
directed to Global Bondholder Services Corporation at (866) 736-2200
This press release is for informational purposes only and is not a
solicitation of consents. The Consent Solicitation was only made pursuant to
the Consent Solicitation Statement and the related Letter of Consent. The
Consent Solicitation was not made to holders of Notes in any jurisdiction in
which the making of the Consent Solicitation or the acceptance of Consents
would not be in compliance with the laws of such jurisdiction. The Consent
Solicitation was made only to specified eligible holders of Notes, as set
forth in the Consent Solicitation Statement. In any jurisdiction in which the
securities laws or blue sky laws require the Consent Solicitation to be made
by a licensed broker or dealer, the Consent Solicitation was deemed to be made
on our behalf by the Solicitation Agent or one or more registered brokers or
dealers that are licensed under the laws of such jurisdiction.
About the Company
PifCo is a wholly-owned finance subsidiary of Petrobras incorporated in the
Cayman Islands as an exempted company with limited liability. PifCo was
originally incorporated in order to facilitate and finance the import of crude
oil and oil products by Petrobras into Brazil. Since September 30, 2011, PifCo
no longer engages in the sale and purchase of crude oil and oil products to
and from Petrobras, third parties and related parties. PifCo is a finance
subsidiary functioning as a vehicle for Petrobras to raise capital for its
operations through the issuance of debt securities in the international
capital markets, among other means. Petrobras guarantees, and will continue
to guarantee, all of PifCo's debt obligations through full and unconditional
guarantees of payment.
PifCo's principal executive office is located at 190 Elgin Avenue, George
Town, Grand Cayman, KYI-9005, Cayman Islands, and its telephone number is
Petrobras is one of the world's largest integrated oil and gas companies,
engaging in a broad range of oil and gas activities. Petrobras is a sociedade
de economia mista, organized and existing under the laws of Brazil. For the
year ended December 31, 2012, Petrobras had sales revenues of U.S.$144.1
billion, gross profit of U.S.$ 36.6 billion and net income attributable to
Petrobras' shareholders of U.S.$ 10.9 billion.
This press release contains statements about future events that are subject to
different risks and uncertainties; it is important to note that past results
do not assure or guarantee the behavior of future results. There are a
significant number of factors that may cause real results to materially differ
from plans, objectives, expectations, estimations and intentions expressed,
such as declarations about future events. The Company does not assume any
obligation to update any of the declarations as a result of new information,
future actions or other related events.
SOURCE Petrobras International Finance Company
Contact: Investor Relations Department, Petroleo Brasileiro S.A.-Petrobras,
Telephone: (55-21) 3224-1510/3224-9947, Email: firstname.lastname@example.org
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