PetroRio suspends bond offering

PetroRio suspends bond offering

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Brazil

Brazilian oil and gas company PetroRio said it suspended a cross-border bond offering late last week due to uncertainties in the oil market. The Rio de Janeiro-based company had been planning to sell $450 million worth of five-year notes and had hired Credit Suisse, Citi and Santander as bookrunners.  "This decision was made in accordance with PetroRio's financial discipline, financial leverage (Net Debt/EBITDA) which remains in a downward trend, and operating cash flow, which is suitable to its

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