Petrobras pummels EM record as book hits $43bn
Petrobras’ $11bn deal this week smashed the record for the largest emerging market bond by $2.8bn. That was impressive enough, but the book of $43bn left bankers certain it could have pushed the boundaries even further, writes Olly West.
EM professionals saw the ease with which the market absorbed the Brazilian oil companys bond as evidence of the maturity of the asset class.
"A couple of years ago there were a couple of super big deals in the market like Qatar. Everyone was blown away when they happened,"
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