SOVEREIGN DEBT RESTRUCTURING | MASTERCLASS

A deep dive masterclass on sovereign debt restructuring, to be conducted virtually by Asian high yield bond expert Florian Schmidt.

30 June 2022 (Thu), 5pm Singapore/HK time

Brazil’s state-owned oil company Petrobras announced that it has started negotiations to sell two oil fields in the Campos Basin. An offer was placed by a consortium led by PetroRio, which has previously put forward offers to Petrobras’ Albacora and Albacora Leste fields. Petrobras owns 100% of Albacora and 90% of Albacora Leste, whilst the remaining 10% is owned by Repsol and Sinopec. Another offer for the Albacorca fields was made by EIG Partners together with Enauta and 3R Petroleum. Offers for both fields could be up to $4bn.

Petrobras’ USD bonds were slightly higher with its 5.093% 2030s up 0.88 to 103.25, yielding 4.61%

For the full story, click here

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