Brazil’s Petrobras Bond Redemption Settles; Mozambique Memorandum Signed
The Petrobras bond redemption of US$1.08 billion in 2028 notes settles on 25 September 2026, three days after the oil major signed a Mozambique memorandum. The post Brazil’s Petrobras Bond Redemption Settles; Mozambique Memorandum Signed appeared first on The Rio Times .
Brazil's state oil company, Petrobras, repaid a $1.08 billion bond early in September 2026. The repayment of 5.999% Global Notes due 27 January 2028 was done using cash on hand, rather than taking on new debt. The company's Dutch financing arm, Petrobras Global Finance B.V., settled the early redemption with US$1.09 billion. This move reduces Petrobras' gross debt, which stood at $70.8 billion in June 2026, and moves it closer to the company's target of $65 billion.
Petrobras signed a memorandum of understanding with Mozambique's state hydrocarbons company, ENH, on 22 September 2026. The memorandum outlines joint work in studies, evaluation, development, and commercialization of oil and gas in Mozambique. The partnership aims to foster knowledge sharing and technical experience exchange between the two companies.
The memorandum is valid for two years and can be extended upon mutual agreement. However, the specific details of the collaboration, such as target projects, investments, or financing terms, have not been disclosed.
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