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Petrobras et al offering US$1.14bn in bonds overseas

Bnamericas
Brazilian companies are currently offering a total of US$1.14bn in bonds overseas, business daily Valor Economico reported Wednesday. Federal energy company Petroleo Brasileiro (Petrobras) on Tuesday launched a US$500mn offer of 15-year bonds, the longest maturity offered by a Brazilian firm this year. As investors dumped Brazilian sovereign papers to buy Petrobras bonds, Brazil's risk premium on Tuesday rose 2.02% to run above the 500 base point level again, Valor said. Analysts predict Petrobras could raise as much as US$750mn. The company is proposing to pay an annual yield of 8.2% to 8.5% on the bonds. Banks Unibanco and ABN Amro are also selling bonds abroad, with the former offering US$200mn in ten-year papers and the latter US$50mn.

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