Petrobras jumbo exchange beats expectations

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Petrobras jumbo exchange beats expectations

Oliver West
September 26, 2017 05:00 am
Petrobras, Brazil, LatAm
In the last two months, Petrobras, a company controlled by the Brazilian Government, reduced the price of fuels in refineries. The reduced value of the fuel, however, did not reach consumers. Petrobras supplies the fuel to distributors and allows the free market to set selling prices to consumers. In this image, the fuel station in the Copacabana neighborhood sells premium gasoline at BRL 4,189 / liter. (Photo by Luiz Souza/NurPhoto) *** Please Use Credit from Credit Field *** | NurPhoto/SIPA USA/PA Images

Both of Brazilian oil giant Petrobras’s new bonds issued last Monday will jump to jumbo size after the response to the company’s exchange offer surpassed the expectations of many market participants.

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Oliver West
US Bureau Chief - Latin America Editor
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