Petrobras — give a little bit, and take a bit more

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Petrobras — give a little bit, and take a bit more

Oliver West
June 04, 2015 06:45 PM
Maria das Graças Silva Foster, Petrobras, Brazil
Former Petrobras President Maria das Graca Fortes, arrives to give her testimony on the Petrobras corruption scandal at the Parliamentary Commission of Enquiry of the Chamber of Deputies, in Brasilia, Brazil, Thursday, March 26, 2015. Prosecutors say the country's largest construction and engineering firms paid at least $800 million in bribes and other funds to Petrobras' executives and politicians in exchange for inflated contracts. (AP Photo/Eraldo Peres) | Eraldo Peres/AP/Press Association Images

Century bonds are easy to criticise, but few instruments generate such momentum around a credit and we mustn’t forget that when they happen it is for a reason: investors want them.

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Oliver West
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