This content is from: Innovation

Petrobras Plans $40B Debt Issue By 2014

Brazilian oil company, Petrobras, is seeking to raise around $40 billion in debt by 2014.

Brazilian oil company, Petrobras, is seeking to raise around $40 billion in debt by 2014, Financial Times reports. The Rio de Janeiro-based company seeks to use the proceeds for further exploration and development of pre-salt fields.

Petrobras, which raised around $6 billion in a bond issue two weeks ago, is planning around $224 billion in capital expenditure by 2014 to boost exploration. The company raised around $70 billion in an equity issue in 2010.

Click here for the story from Financial Times.

Related Content