by Amruth Sundarkumar | Aug 6, 2021 | High Yield Bonds
Brazil’s state-owned oil company Petrobras has agreed to sell its 36.1% stake in the petrochemical firm Braskem SA. Petrobras hired JPMorgan Chase & Co as an advisor for the sale. Petrobras and Brazilian conglomerate Novonor, previously known as Odebrecht, have...
by Amruth Sundarkumar | Aug 5, 2021 | High Yield Bonds
Brazilian oil major Petrobras reported a net profit of BRL 42.8bn ($8.29bn) vs. losses of -$2.7bn in 2Q2020 whilst also beating estimates of BRL $30.7bn ($5.9bn). Revenues were up 55% to $20.9bn in Q2 vs. $9.4bn in the previous quarter. Petrobras attributed its strong...
by Amruth Sundarkumar | Jul 1, 2021 | High Yield Bonds
Brazil’s Petroleo Brasileiro SA (Petrobras) raised $2.3bn in a secondary share offering of its full remaining 37.5% stake in its former subsidiary Petrobras Distribuidora SA amounting to BRL 11.36bn ($2.3bn). The offering included a 2.5% discount over the closing...
by Amruth Sundarkumar | Jun 3, 2021 | High Yield Bonds
Brazil state-owned oil company Petrobras raised $1.5bn via a 30Y dollar bond at a yield of 5.75%, 50bp inside initial guidance of 6.25% area. Proceeds will be used to buyback $2.5bn worth of bonds with maturities across 2025s to 2050s. The deadline for the offer is...
by bondevalue | May 14, 2021 | High Yield Bonds
Brazil’s oil company Petrobras reported a net profit of $220.2mn in 1Q2021, partially reversing its losses of $9.16mn a year earlier. The company recorded that profits were down 98.1% compared to its record 4Q2020 profits of $11.3bn. Petrobras attributed the positive...
