Petrobras closes jumbo tender

Oliver West

February 13, 2017 05:45 am

Petrobras, Brazil, LatAm — In the last two months, Petrobras, a company controlled by the Brazilian Government, reduced the price of fuels in refineries. The reduced value of the fuel, however, did not reach consumers. Petrobras supplies the fuel to distributors and allows the free market to set selling prices to consumers. In this image, the fuel station in the Copacabana neighborhood sells premium gasoline at BRL 4,189 / liter. (Photo by Luiz Souza/NurPhoto) *** Please Use Credit from Credit Field *** | NurPhoto/SIPA USA/PA Images

Brazilian oil giant Petrobras has wrapped up a tender offer that ended up far larger than planned, after bondholders owning $5.57bn of paper agreed to sell their notes.

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Oliver West

US Bureau Chief - Latin America Editor