Petrobras taps 2031s for buyback

Petrobras taps 2031s for buyback

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Brazil

Brazil's state-owned oil company Petrobras added $1 billion to its 5.6% 2031 bonds on Tuesday, pricing the tap at 109.579 to yield 4.4% in a deal that 3.5 times oversubscribed, said a source involved in the deal. Petrobras opened the deal with the initial price talk in the 4.6% area and put guidance at 4.45%, plus or minus five basis points, before launching at 4.4%, the source said.  The company said it reopened the 2031s to raise money for the buyback of up to $2 billion worth of notes that co

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