Petrobras not considering hybrid notes to bolster capital -source
RIO DE JANEIRO Nov 23 (Reuters) - Heavily indebted state-run oil company Petroleo Brasileiro SA is not considering using so-called hybrid securities to bolster its capital, a source close to the company said on Monday.
Local media reported last week that the Brazilian Treasury was studying the possibility of transferring the hybrid securities to Petrobras, as the company is known, which would then book the securities as equity until it sold new stock
Hybrid notes combine elements of debt and equity securities. The government has used hybrid notes to pump money into state banks since 2009, allowing them to boost lending. (Reporting by Rodrigo Viga Gaier; Writing by Alonso Soto; Editing by Jonathan Oatis)
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