COLUMN-Petrobras' remarkable 100-year bond: James Saft
(The opinions expressed here are those of the author, a columnist for Reuters)
By James Saft
June 2 (Reuters) - Sometimes, as with a glorious sunset or a can't-look-away train wreck, the best thing to do is to stand back and bear witness.
Ladies and gentlemen, I give you the Petrobras 100-year bond.
The $2.5 billion bond, issued by subsidiary Petrobras Global Finance, was launched at a yield of 8.45 percent on Monday.
Again, Petrobras is issuing a 100-year bond.
There are three elements in that sentence, let's take them one by one.
PETROBRAS IS A 'COMPLICATED' CREDIT Continuación...