Petrobras picks up $ 11 billion abroad with issuance of securities

Petrobras photographed on Monday the record $ 11 billion in bonuses in the international market, the larger issue is made by a company based in emerging markets, according to a source close to the deal. With the megaoperação, the State aims to raise resources to make feasible the ambitious investment plan, which includes a disbursement of $ 236,5 billion by 2017.
Petrobras offered investors six different types of bonuses in dollar, with maturities ranging from three to 30 years. According to sources, the demand for securities of Petrobras reached $ 45 billion. The cost of the operation fell. The premium demanded by investors to buy the company's roles in four tranches with fixed interest rates were about 60 basis points below the operation closed in February 2012.
The capture also provides other two tranches with fixed and post remuneration to 2016 and 2019. At the beginning of the year, the Chief Financial Officer Almir Barbassa, Petrobras, said that the goal was to raise about $ 20 billion in debt and bank loan emissions throughout 2013. The issue of Monday adds to the $ 7 billion State does this year outside of the capital market.
For partner-picture investments, Alvaro Bandeira, Petrobras capture success paves the way for new issues by Brazilian companies. "I think the timing is good. What we have seen is that the Brazil photographed with a great rate last week and now Petrobras also, "he said.
As banner, there is a window of liquidity currently on the market. So, he said, the timing is interesting for other companies also promote abstractions to make feasible investment plans. "The capital market is showing a window for those who want to take advantage of," he said.
With a heavy investment plan, Petrobras has sought several sources of funding. The budget for this year is $ 92 billion-2013-2017 strategic plan includes disbursements of $ 236,5 billion. In addition to the bonus issue made on Monday, Petrobras already captured $ 7 billion this year outside of the capital market, according to the who revealed Barbassa in April. "Petrobras needed this operation to make your investments and to reset the box," he said. Analysis of partner Investments-picture, the good result of captures made by Spain and Italy confirmed the favourable moment in the industry.
Recovery. After a bitter $ 53.9 billion in market value in the first two months of 2013, Petrobras practically reached zero this loss, before best perspectives for the company in the coming quarters. A survey by the consultancy Economatica fetus at the request of the Broadcast, real-time service of State Agency, shows that the State's market value at the end of the week I was in R $ 254,656 billion, virtually stable in relation to the R $ 254,852 billion recorded in December 31. In February 28, 24 days after Petrobras disclosed the worst annual result since 2004, the company's market value has to fall 21.2%.
The recovery value of Petrobras shares came from the balance of the first quarter of this year, aiming to better prospects for the State. In reports, financial analysts were more optimistic with Petrobras. They highlighted that the readjustments in gasoline and diesel prices announced earlier in the year also brought relief to the State box.