Offering includes US$600 million Senior Secured Notes

Linklaters has advised PetroRio, a Brazil-based oil and gas company on the inaugural issuance of US$600m 6.125% Senior Secured Notes due 2026.

The Notes are secured by the shares of certain of PetroRio’s Brazilian and Luxembourg subsidiaries, as well as two Floating Production Storage and Offloading vessels (FPSOs) domiciled in the Bahamas.

PetroRio will use the proceeds to prepay existing credit facilities and for general corporate purposes.

PetroRio is one of Brazil‘s largest independent oil and natural gas companies. It focuses on investments in the sector and the recovery of assets in production, in addition to managing reserves and developing mature fields.