Tag: Petrobras bonds

• Tuesday, March 1st 2016 - 07:32 UTC

  China to the rescue of debt-burdened Petrobras with a US$10bn credit

  

  Bonds issued by Brazil's Petrobras ended one to two points higher on Monday as the beleaguered oil company eased refinancing pressure by clinching a US$10bn loan from China. The US$10bn loan from China Development Bank, which can be repaid in cash or oil, will do much to reduce refinancing risks for what is one of the world's most indebted companies.

• Monday, March 23rd 2015 - 17:13 UTC

  Petrobras corruption scandal reaches New York court: banks will have to explain sale of bonds to US investors

  

  Fifteen banks will join Petrobras next week, April 3, in a New York court to explain how they did nothing wrong when selling 98 billion dollars worth of the Brazilian state oil company’s bonds to American investors. Of the 15, lawyers representing the investment banking divisions of Itau and Bradesco will appear before New York judge Jed Rakoff in hopes to escape the scandal.

• Wednesday, December 31st 2014 - 05:42 UTC

  Hedge fund targets 54bn dollars in Petrobras bonds governed by US law

  

  Petrobras, Brazil's state-run oil company, could be declared in technical default on some of its foreign debt if bondholders pursue efforts to force it to speed up its assessment of losses in a giant corruption scandal, according to reports from Reuters.