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Bond Market News

Petrobras Raises $2.3bn via Subsidiary Divestment

July 1, 2021

Brazil’s Petroleo Brasileiro SA (Petrobras) raised $2.3bn in a secondary share offering of its full remaining 37.5% stake in its former subsidiary Petrobras Distribuidora SA amounting to BRL 11.36bn ($2.3bn). The offering included a 2.5% discount over the closing price set at BRL 26 ($5.23) per share.

Petrobras´ USD bonds were stable with its 5.229% 2025s at 112.75, yielding 1.6% and its 5.5% 2051s at 100.75, yielding 5.45%.

For the full story, click here

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