Petrobras deleverages as Parente quits

Investors owning $12.836bn-equivalent of Petrobras dollar and euro bonds offered to sell their notes in a tender offer before Tuesday's early bird deadline — more than three times the $4bn limit that the Brazilian oil company had set for the buy-back.

  • By Oliver West
  • 07 Jun 2018
As GlobalCapital reported on May 24, a sell-off in Petrobras’s curve since it launched the tender offer in May meant a strong response was always likely. A truckers’ strike in Brazil in protest at rising diesel prices, which culminated in the resignation of Petrobras CEO Pedro Parente after ...

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