Petrobras Bonds Tighten after Record Sale

Petrobras Bonds Tighten after Record Sale

Brazil Bonds

The six bonds issued in Petrobras' $11bn blockbuster sale continued performing well Tuesday, with 12-33bp spread tightening in the secondary market, according to traders. The new 2023 traded at UST+238bp-241bp, after pricing Monday at 260bp, and the new 2043 traded at 250bp-253bp after pricing at 265bp. On the shorter end, a 2019 reached UST+210bp-214bp, in from 230bp, and a 2016 tightened to 142bp-147bp, from 175bp. The 2016 and 2019 FRNs priced at par and traded up at 101-101.3 and 101.9-102.4

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