Petrobras Completes Diversification Play

Dec 6, 2011

By pricing GBP700m ($1.1bn) 2026 bond Monday, Petrobras wrapped up its foray into the European market as it looks to expand its funding base and ease pressures on its core funding base. Bankers agree that the Brazilian oil company paid a premium to its dollar curve, but access to new pools of funding is seen as vital for a credit that needs to cover massive capex needs over the coming years, and the extra cost was probably...

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