On 1^st December 2011 Crédit Agricole CIB acted as joint bookrunner in Petrobras two-tranche EUR bond issue transaction. This transaction comprises a EUR 1.25 billion long 6-year and a EUR 600 million long 10-year tranches.

The order book was broad and deep, over EUR 4.75 billion and more than 590 orders on the two tranches. This was the largest EUR transaction ever for a Brazilian issuer. The large majority of investors were European investment grade buyers, allowing Petrobras to diversify its sources of liquidity from its regular USD and EM investor base.

Three days after issuing in EUR, Petrobras took the decision to issue a bond in Sterling, GBP 700 million, 15-year tenor, on an order book of GBP 1 billion. Crédit Agricole CIB was also mandated joint bookrunner.

"We are proud to accompany Petrobras once again in a landmark transaction, the largest EUR/Sterling bond issues ever for a Brazilian corporate, after two other major transactions in the last year: in September 2010 in the largest equity offering in history and in January 2011 in the largest single bond issue ever in the Americas. This new transaction clearly illustrates the excellent collaboration between our teams in Brazil, New York and London," says Denis Demange, Senior Banker.

Petrobras is one of the major integrated oil and gas companies in Latin America and the largest corporation in Brazil. Its activities cover exploration, production, refining, transportation and distribution. Petrobras is the world leader in deepwater drilling, with 20% of world market share. The company employs more than 76,000 professionals in 26 countries.