Brazil Said to Study Hybrid Securities for Petrobras

Brazil is studying the possibility of using hybrid securities to boost capital at struggling state-controlled oil producer Petroleo Brasileiro SA, Agencia Estado reported, citing government officials it didn’t name.

The operation is being discussed between Brazil’s treasury and Petrobras’s management, and no amount has been defined yet, Estado said. The government and Rio de Janeiro-based Petrobras aren’t considering a share sale to minority investors as an option to raise cash at this time, Estado said. Petrobras declined to comment.

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