Petroleo Brasileiro SA, the state-run oil producer at the center of Brazil’s biggest ever corruption scandal, offered record-high interest rates to entice investors to its first international bond sale in a year.
Petrobras sold $5 billion five-year notes to yield 8.625 percent and $1.75 billion of 10-year notes to yield 9 percent, according to a person familiar with the transaction who asked not to be identified because the information is private. The oil producer said it would use proceeds from the sale to buy back as much as $3 billion in notes due in 2018.
