Argentina's Petrobras Energia to sell $300 million 10-year notes

By Reshmi Basu

New York, April 19 - Petrobras Energia SA plans to sell up to $300 million in 10-year series S notes, according to a statement filed with the U.S. Securities and Exchange Commission.

No additional information such as timing was disclosed.

Earlier, the company said it planned to sell $2.5 billion of debt, according to a statement filed with Argentina's capital markets regulator, CNV.

The proceeds from the $2.5 billion sale will be used for working capital, for investment in fixed assets, for refinancing debt and to offer capital to associated companies, according to a market source.

The Buenos Aires-based issuer is a subsidiary of the Brazilian state-run oil company Petroleo Brasileiro SA.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.