QUASI-SOVEREIGN BOND: Petrobras $11bn jumbo

Jan 17, 2014

Timing, size and execution were all remarkable in this attention-grabbing bond sale

Size is not everything. Nor is timing. But when the two elements come together in as a spectacular fashion as they did for Petrobras’ $11 billion bond issue in May 2013, the result is often extraordinary. The A3/BBB/BBB rated borrower sold a six-tranche issue, drawing an order book of around $45 billion — enough to make the deal even bigger, had it wanted to. "Although we had demand to have done a larger size, we were considering a maximum of $11 billion," Almir Barbassa, Petrobras’ chief financial officer...

To continue reading please take a free trial, subscribe or login below.


Already have an account?

Subscribe

Subscribe now for unlimited access to all current and archive news, data and market analysis. 

Subscribe

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial

Upcoming Events

Poll

Which area will be most profitable for investment banks in LatAm in 2016?

Vote    




Popular Searches