May 17, 2016 Reuters By Mike Gambale and Paul Kilby NEW YORK, May 17 (IFR) - Brazil's Petrobras Global Finance is looking to sell a two-part US dollar benchmark bond on Tuesday, the first international issue from a Brazilian corporate since June last year. Active bookrunners BB Securities, JP Morgan, Bank of America Merrill Lynch... Continue Reading →
Window opens for Brazil’s first corporate bonds of year
NEW YORK, May 16 (IFR) - The Senate's decision to put former president Dilma Rousseff on trial last week and replace her with market friendly Michel Temer has opened a bond issuance window for Brazilian borrowers seeking to take advantage of recent spread tightening. Petrobras is on the top of the list of possible issuers... Continue Reading →
Former Bunge Brasil CEO Parente picked to run Petrobras
Brazil's interim President Michel Temer has decided to appoint engineer and former Bunge executive Pedro Parente to be chief executive of ailing state-run oil company Petrobras, O Globo newspaper reported on Monday. Parente was chief of staff of former president Fernando Henrique Cardoso, during whose administration he successfully managed a severe energy crisis that required... Continue Reading →
Clarification of News Item: Brookfield offer for Petrobras gas pipelines
Rio de Janeiro, May 13, 2016 – Petróleo Brasileiro S.A. – Petrobras hereby responds to Official Letter 202/2016-CVM/SEP/GEA-1, which requests the following clarifications: Official Letter 202/2016-CVM/SEP/GEA-1 “Dear Officer, We refer to the news item published today in the Economia & Negócios (Economics & Business) section of the newspaper O Estado de São Paulo, entitled Brookfield... Continue Reading →
Deutsche sees Rousseff ouster boosting Petrobras, Brazil bank debt
Bonds in Brazilian state-controlled oil producer Petróleo Brasileiro SA and those of banks, steelmakers and commercial property companies are expected to benefit from President Dilma Rousseff's removal, which could usher in more business-friendly policies, Deutsche Bank Securities said in a report. Brazil's Senate voted last week to impeach Rousseff and she faces trial on charges... Continue Reading →
Petrobras’s Can of Worms
Petrobras, which on Friday reported its first-quarter numbers,admits it has a problem, with its chief financial officer saying: "Petrobras is a company with very high cholesterol levels, which is leverage." This sickness has no doubt been exacerbated by the corruption scandal that has left Petrobras in the cross-hairs of the Department of Justice and taken... Continue Reading →
Petrobras to ‘Cut Cholesterol’ After Third Straight Loss
Brazil’s state-controlled oil company Petrobras is advancing asset sales to reduce the biggest debt load in the oil industry after three consecutive quarterly losses. Petroleo Brasileiro SA is negotiating the sale of the natural gas distribution unit Nova Transportadora do Sudeste to Brookfield Asset Management Inc., the Rio de Janeiro-based company said Thursday, without providing a... Continue Reading →
Approval of Sale of Petrobras Argentina
Rio de Janeiro, May 12, 2016 – Petróleo Brasileiro S.A. – Petrobras, in accordance with the material facts published on January 20, 2016, March 2, 2016, April 8, 2016, and May 3, 2016, announces that its Board of Directors approved, in a meeting held today, the sale of its entire 67.19% shareholding in Petrobras Argentina... Continue Reading →
Petrobras – FIRST QUARTER OF 2016 RESULTS
May 12, 2016 - FIRST QUARTER OF 2016 RESULTS - Derived from interim financial information reviewed by independent auditors, stated in millions of Brazilian Reais, prepared in accordance with International Financial Reporting Standards - IFRS issued by the International Accounting Standards Board - IASB. Main financial highlights (1Q-2016 x 1Q-2015): • Net loss attributable to... Continue Reading →
Petrobras – Sale of Nova Transportadora do Sudeste
Rio de Janeiro, May 12, 2016 – Petróleo Brasileiro S.A. – Petrobras, giving continuity to the notice published on February 26, 2016 regarding the process of sale of Nova Transportadora do Sudeste (NTS), announces that the Company's Executive Board approved carrying out the negotiations with Brookfield on an exclusive basis for 60 days, which may... Continue Reading →
