Petrobras Issues $11 Billion in Record Emerging-Market Bond Sale
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Petroleo Brasileiro SA sold $11 billion of bonds abroad today, the most ever for an emerging-market issuer, as it seeks to develop the biggest offshore oil find in the Americas in more than 30 years.
Petrobras, as the Brazilian state-run oil producer is known, issued fixed-rate bonds due in three, five, 10 and 30 years as well as three- and five-year floating-rate notes, according to data compiled by Bloomberg. The sale tops the company’s $7 billion offering last year as the largest ever emerging-market corporate dollar-denominated deal.