- Petrobras (PBR +0.8%) launches Latin America's first cross-border bond sale of the year, offering five- and 10-year bonds to finance an up to $2B tender as part of the debt-ridden company's efforts to term out upcoming maturities.
- At initial price thoughts of 6.5% area on the five-year bond and 7.75% area on the 10-year, bankers are seeking to entice investors with generous premiums.
- "Petrobras isn't in a position these days where it can skin every last basis point on their deals," a banker tells Reuters.
Petrobras launches new $2B bond tender
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| Symbol | Last Price | % Chg |
|---|---|---|
| PBR | - | - |
| Petróleo Brasileiro S.A. - Petrobras | ||