This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Petrobras’ Shares and Bonds Weaker after CEO and CFO Ousting
May 16, 2024
Petrobras’ CEO and CFO were ousted by its board, raising fresh concerns over government interference in the company’s matters. Sources say that the exits come after the controversy over dividend payments by the company. Brazilian President Lula has tapped Magda Chambriard who led the nation’s oil regulator in the 2010, for the post. Analysts also expressed concern, as the CEO was considered as someone who helped balance disciplined capital spending and dividends alongside political demands to stabilize fuel prices and invest in job-creating sectors.
Petrobras’ shares were down over 6% and its dollar bonds were trading weaker. Its 5.999% 2028s were down 0.4 points to 99.88, yielding 6.03%.
For more details, click here
Go back to Latest bond Market News
Related Posts:Bolsonaro Announces Plan to Replace Petrobras Chief; Bonds Slump
February 22, 2021
Petrobras to Sell Braskem Stake
August 6, 2021
Petrobras Reports Highest Profits on Record
February 24, 2022
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.