Page 11 - LatAmOil Week 30

LatAmOil
NEWS IN BRIEF
LatAmOil
Petrobras’ board of directors approved today the sale of 349.5mn shares in BR Distribuidora, including 58.25mn additional shares as part of Petrobras’ option to increase the base o er by 20%. e o er priced at BRL24.50 per share, totaling BRL8.56275bn, or US$ 2.277327128bn at the exchange rate of BRL3.76 per US dollar. rough the o ering, Petrobras will sell shares amounting to 30% of BR Distribuidora’s capital stock and will retain 41.25% of BR Distribuido- ra’s capital stock a er the conclusion of the o er.
Pursuant to article 24 of CVM Instruc- tion 400, the number of shares o ered may be increased by up to 43.6875mn Shares pursuant to the Brazilian underwriters’ option to pur- chase additional shares, under the same con- ditions and at the same price per share as the shares initially o ered. If the option is exercised, the amount of the o ering may increase to up to BRL9.63309375bn, or $2.561993019bn at the exchange rate of BRL3.76 per U.S. dollar, and Petrobras’ equity interest in BR Distribuidora’s capital stock may be reduced to 37.50%, assum- ing the option is exercised in full.
Petrobras, July 24 2019
Vista Oil & Gas announces
pricing of public offering
with NYSE listing
Vista Oil & Gas, an independent Latin Ameri- can oil and gas company, announced today the pricing of the underwritten public o ering of the company’s Series A shares (the “Series A shares”) as part of the global primary o ering of 10mn Series A shares. e global o ering consisted of an international o ering in the US and other countries outside of Mexico and a concurrent public o ering in Mexico. e Series A shares sold in the global o ering may be represented by American Depositary Shares (“ADSs”), each representing one Series A share.
e global o ering will be priced at $9.25 per Series A share and ADS.
e ADSs are expected to begin trading on the New York Stock Exchange on July 26, 2019, under the ticker symbol “VIST.” e Company’s
Series A shares are listed on the Mexican Stock Exchange under the ticker symbol “VISTA.” e global o ering is expected to settle on July 30, 2019, subject to customary closing conditions. e Company intends to use the net proceeds from the global o ering to fund capital expendi- tures relating to its development plan.
e Company has granted the underwriters the option to purchase up to 1.5mn additional Series A shares, which may be represented by ADSs, to cover over-allotments, if any.
Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC are acting as joint bookrunners and joint global co-ordinators and Itau BBA USA Securities, Morgan Stanley & Co. and Santander Investment Securities are acting as joint bookrunners in the international o ering. Citibanamex Casa de Bolsa, Casa de Bolsa, integrante del Grupo Financiero Citib- anamex, Casa de Bolsa Credit Suisse (Mexico), Grupo Financiero Credit Suisse (Mexico), Mor- gan Stanley Mexico, Casa de Bolsa and Casa de Bolsa Santander, Grupo Financiero Santander Mexico acted as underwriters for the Mexican public o ering.
The public offering in Mexico has been authorised by the CNBV.
Vista Oil & Gas, July 25 2019
Compania General de Combustibles commences tender offer for 9.5% notes due 2021
Compania General de Combustibles (CGC) hereby announces that it has commenced a cash tender o er for any and all of its outstanding 9.5% senior notes due November 7, 2021.
e o er is being made pursuant to an o er to purchase dated July 25, 2019, and the related notice of guaranteed delivery, which set forth the terms of the o er.
Global Bondholder Services Corp. is acting as the depositary and tender and information agent for the o er. Citigroup Global Markets Inc. is acting as dealer manager for the o er.
The total consideration for each $1,000 principal amount of notes purchased pursuant to the o er will be $1,000 per $1,000 principal amount of notes payable only in respect of Notes validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on July 31, 2019, that CGC accepts for purchase. Only notes validly tendered and not validly withdrawn at or before the expiration time will be eligible to receive the tender o er consideration.In addi- tion, CGC will pay accrued and unpaid interest and additional amounts, if any, in respect of any notes purchased in the o er from the last interest payment date to, but not including, the payment date.
The principal purpose of the offer is to acquire the outstanding notes as part of a plan to re nance a portion of the company’s long-term debt due in 2021 with longer maturity nancing. Compania General de Combustibles, July 25 2019
POLICY
Petrobras receives
BRL425mn as a result of
leniency agreements and
repatriations
Petrobras reports that it received this week BRL425mn ($112.4mn) as a result of leniency agreements and repatriations carried out by the Federal Prosecutor’s O ce. us the total amount of funds returned to the company as a result of cooperation, leniency agreements and repatriation exceeds BRL4bn ($1.06bn).
Such return involves: (i) BRL313mn ($82.8mn), related to the payment of the rst installment of the Technip and Flexibras leni- ency agreement entered into with the Federal Prosecutor’s O ce, the Government Account- ability O ce and the Federal Attorney General; (ii) BRL45mn ($11.9mn), due to an installment of the leniency agreement between Camargo Correa and the Federal Prosecutor’s Office; and (iii) BRL67mn ($17.7mn) from individu- als involved in acts of corruption discovered in Operation Car Wash.
Additionally, the agreement with Technip and Flexibras also provides for two additional payments to Petrobras, in 2020 and 2021, each in the amount of BRL253mn ($66.9mn), which will be accounted for upon their actual receipt.
Petrobras rea rms its commitment to take applicable actions, seeking the appropriate com- pensation for damages resulting from unlawful acts committed.
Petrobras, July 24 2019
Week 30 31•July•2019
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