Infrastructure deal of the quarter century: Odebrecht Oil & Gas

Infrastructure deal of the quarter century: Odebrecht Oil & Gas

Project & Infrastructure Finance

Norbe VIII and IX Drillship bond, 2010 Project bonds have long been seen as a tool that could revolutionize infrastructure finance in Latin America, opening funding possibilities on a scale not possible through bank lending. And as oil production in Brazil’s pre-salt fields transforms the scale of that industry, drillships will become a major component of the region’s infrastructure build-out. As the first large issue from a Latin borrower for a drilling rig, Odebrecht Oil & Gas’s $1.5 billion deal sold in November 2010 wins infrastructure deal of the quarter century for paving the way in the bond market for more such deals. Others, for floating service vessels, wind farms and toll roads,

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