Petrobras scandal blamed as Marfrig cancels LM

Oliver West

November 20, 2014 05:45 am

Petrobras, Paulo Roberto Costa — Paulo Roberto Costa, former director of the Brazilian Oil Company Petrobras, gives testimony before the Joint Parliamentary Committee of Inquiry of the Senate on Petrobras Curruption, at the National Congress in Brasilia, Brazil, Wednesday, Sept. 17, 2014. Costa, who had become an associate justice and is currently detained in prison stands accused of alleged money laundering, and recently revealed that Petrobras was allegedly involved in a scheme of bribes to various Brazilian politicians. (AP Photo/Eraldo Peres) | Eraldo Peres/AP/Press Association Images

Bankers working on meatpacker Marfrig’s liability management exercise, which was pulled on Wednesday, blamed the fallout from Petrobras’ corruption investigation for the cancellation as Brazilian corporate bond prices suffer.

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Oliver West

US Bureau Chief - Latin America Editor