Brazil’s Petrobras plans R$3 billion debentures in up to three parts

By Susanna Moon

Chicago, Dec. 19 – Petroleo Brasileiro SA (Petrobras) plans to issue R$3 billion of unsecured debentures in up to three series.

The issue was approved at a board meeting Tuesday and may be upsized up to 20%, or up to R$600 million, according to a notice.

Proceeds will be used to prepay debt, and any remaining proceeds will be used in the ordinary course of business, the release noted.

Petrobras is a Rio de Janeiro-based oil and gas company.

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