Corporate deal of the quarter century: Petrobras

Corporate deal of the quarter century: Petrobras

$11bn bond, 2013 Latin corporates have made increasingly daring forays into the bond markets: extending tenors, tweaking structures, restructuring debt and dabbling in currencies. Yet the overwhelming size of Petrobras’s May 2013 bond sets it apart from others. The six-tranche bond is the largest-ever emerging market deal. That shows investor confidence in the state-controlled oil producer’s fundamentals, growth strategy, and commitment to maintain its investment grade ratings, Petrobras’s chief financial officer Almir Barbassa told LatinFinance when the deal was sold. Petrobras timed the transaction well, hitting the market ahead of an uptick in US Treasury yields and dramatic EM portfo

Already have an account?

Free trial

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

Free Trial