Petrobras May Need to Issue $60 Billion in Debt
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Petroleo Brasileiro SA, the Brazilian oil company that sold shares last month in the world’s largest offering, may need to raise an additional $60 billion to fund its investment plans, Nomura Holdings Inc. said.
Petrobras, as the company based in Rio de Janeiro is known, may issue $15 billion a year in debt between 2011 and 2014 to pay for oil and natural-gas projects, Nomura analysts led by Scott Darling said today in a note to clients.