Brazil’s Petro Rio pulls senior notes, cites market conditions

Chicago, Oct. 6 – Petro Rio SA gave notice to the market that the company halted its planned issuance of senior notes (B2), according to a notice.

The company had been proposing an offering of $450 million of five-year notes to be issued through subsidiary PetroRio Luxembourg Sarl.

The offering was pulled due to uncertainty in the oil market and volatility in commodity prices.

The notice said that the company may come back to the market when conditions are deemed favorable.

Based in Rio de Janeiro, the oil and gas company was formerly known as HRT Participacoes em Petroleo SA.

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