3R lines up local debt sale
3R lines up local debt sale
June 30, 2021 Brazilian oil and gas company plans to raise $324 mln to buy oil fields from Petrobras
DebentureDebtEnergyOilGasM&ACapital MarketsBrazil Brazilian oil and gas company 3R Petroleum said Monday that it could issue BRL1.6 billion ($324 million) in debentures in the local market to refinance debt and finance the acquisition of oil fields from state-owned oil company Petrobras.
Rio de Janeiro-based 3R has hired Itaú BBA, BTG Pactual and XP Investimentos to lead a possible deal, it said in a securities filing. The company will use its subsidiaries 3R Macau, 3R Rio Ventura, 3R Fazenda Belém, 3R Pescada and 3R Candeias as a guarantee for
In a speech on 24 November 1992, marking her
Ruby Jubilee on the throne, Queen Elizabeth II said, “1992 is not a year on which I shall look back with undiluted pleasure. In the words of one of my more sympathetic correspondents, it has turned out to be an
annus horribilis.”
Annus horribilis. This is a moniker that oil and gas insiders might well apply to 2020 given the disastrous effects on the industry from Covid-19 pandemic (“Pandemic”) and its accompanying recession which brought a precipitous fall in demand and price. Indeed, in May the price of crude oil briefly went negative for the first time in history. This was followed by massive layoffs across the board and sharply curbed investments in planned and ongoing projects. Several major oil companies announced profound changes in their long-range focus from hydrocarbons to greener energy.