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Petrobras Debuts in Green Financing With $1.25 Billion Loan

  • Brazil’s oil giant has no plans to tap markets in short term
  • Producer wants to show a focus on sustainability targets
Signage outside a Petroleo Brasileiro SA gas station in Rio de Janeiro, Brazil.

Signage outside a Petroleo Brasileiro SA gas station in Rio de Janeiro, Brazil.

Photographer: Francesca Gennari/Bloomberg

Petroleo Brasileiro SA debuted in the green financing market with a $1.25 billion sustainability-linked loan as Brazil’s oil giant looks to court environmentally conscious investors.

With strong cash-flow generation in the first quarter, the Rio de Janeiro-based company has no plans to tap the bond market in the short term as high volatility clouds the environment for new issuances.