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July 16, 2019 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) announced today the early results of its previously announced debt tender offers (the “Waterfall Offers”). As of 5:00 p.m., New York City time, on July 15, 2019 (the “Early Tender Deadline”) holders of US$1,790,166,000 principal amount of the outstanding notes of the series... Continue Reading →
Overhauling the bloated public pension system has been a ubiquitous topic among Brazil investors for years now, the change nearly every money manager would cite when asked what the country needed most. Now that it’s finally here, traders seem to want a whole lot more. The revamp, which is expected to save the government almost... Continue Reading →
The surprise departure of Mexico’s finance minister has the state oil company’s watchers biting their nails. Carlos Urzua resigned Tuesday, citing conflicts of interest and policy disagreements within Andres Manuel Lopez Obrador’s administration. That sent the peso plunging as much as 2.3%, and stocks sliding. Yields on both sovereign and Petroleos Mexicanos bonds surged, reflecting... Continue Reading →
The sale of state-owned assets is expected to drive M&A transactions and share offerings volume in Brazil in the second half of the year, bankers and investors said, after a slower-than-expected first half. As court injunctions delayed asset sales by oil company Petroleo Brasileiro SA (PETR4.SA) and discussion of pension reform dragged on in Congress,... Continue Reading →
July 9, 2019 Finance Secretary Carlos Urzúa announced his resignation today in a strongly worded letter that criticized the public policy decision making process within the government and the appointment of officials with no knowledge of public finances. “Discrepancies over economic matters were plentiful,” Urzúa wrote in a letter addressed to President López Obrador that... Continue Reading →
RIO DE JANEIRO, BRAZIL – July 8, 2019 – Petróleo Brasileiro S.A. – Petrobras (“Petrobras”) (NYSE: PBR) today announced the expiration and expiration date results of the previously announced offers to purchase (the “Offers”) by its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”), of any and all of its outstanding notes set forth in the... Continue Reading →
(Bloomberg) -- Pension reform optimism and a narrow current account deficit are still not enough to get some of Brazil’s top fund managers to bet on the nation’s currency. Given economic fundamentals, the real could be trading at about 3.30 per dollar, said Luis Stuhlberger, a Sao Paulo-based founding partner at Verde Asset Management, which... Continue Reading →
Rio de Janeiro, July 5, 2019 - Petróleo Brasileiro SA - Petrobras, in relation to the news published in the media, regarding the sale of Liquigás Distribuidora SA, clarifies that this divestment project is in the binding phase, as disclosed to the market in June 20, 2019. In the previous phase of the project, Petrobras... Continue Reading →
Rio de Janeiro, July 05, 2019 - Petróleo Brasileiro S.A. - Petrobras informs that in connection to the press released of May 7th, 2019 is paying today Interest on Capital (IOC), as defined in art. 9, sole paragraph of its Bylaws. The gross value to be distributed, totaling R$ 1,304,420,126.10, corresponds to a gross amount... Continue Reading →
July 3, 2019 Petrobras announced the notice to the market and the preliminary prospectus of the public offer of secondary distribution of common shares issued by Petrobras Distribuidora S.A. (BR) and owned by Petrobras. The operation follows the terms of CVM Instruction No. 400/2003, CVM Instruction 471/2008 and the Code of Agreed Activities of ANBIMA... Continue Reading →
