3 de febrero de 2015 / 23:10 / en 3 años

Brazil sovereign debt sales on hold amid Petrobras scandal -source

BRASILIA, Feb 3 (Reuters) - Brazil’s government is putting global bond sales on hold due to a widening corruption scandal at state-run oil company Petrobras, a member of President Dilma Rousseff’s economic team said on Tuesday.

“There’s no window [for a foreign debt sale],” the source said on condition of anonymity because of the sensitivity of the government’s plans.

Investor confidence in Brazil has been rattled by a growing fiscal deficit, stagnant economy and evidence of a price-fixing, bribery and political kickback scheme at the oil firm known as Petroleo Brasileiro SA.

Brazil’s last foreign debt sale, in September, was a $1 billion reopened offering of dollar-denominated global bonds due in January 2025.

There are no plans yet for meetings between Brazil’s economic policymakers and foreign investors, according to the government source. So-called road shows are often scheduled in advance of global bond sales. (Writing by Brad Haynes; Editing by Richard Chang)

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