SAO PAULO Feb 19 Petróleo Brasileiro SA
is considering the sale of about 3 billion reais
($1.26 billion) in local notes to fund infrastructure projects,
helping the state-controlled oil company tap investors beyond
its traditional base, a source with direct knowledge of the
The Rio de Janeiro-based company, which has not sold senior
debt in the domestic market in 12 years, is in talks with banks
on how to place an offering of so-called infrastructure
debentures soon, said the source, who requested anonymity
because the plan is in the works. The inflation-linked notes
would be split into different maturities, the source added.
The domestic debt offering could also help Petrobras buy
time ahead of a planned comeback to international debt markets.
According to the source, the company wants to clinch the sale of
dollar-denominated bonds during the first half and extend a
successful offering of euro- and British pound-denominated
securities in the second half.
A Petrobras spokesman did not have an immediate comment.