An Albatross Around Petrobras' Neck

The Petrobras (PBR) bond sale was splashy, but an obscure piece of legislation in Brazil's Congress may be even more important to the oil-and-gas company and its investors.

The $11 billion bond sale, the biggest emerging-market debt deal ever, certainly deserved those headlines. Yet, as big as the offer was, it's not the last one we'll see from Petrobras. The company is looking to raise $20 billion from bond sales and bank loans this year as part of its efforts to fund a $237 billion capital-spending plan for 2013 to 2017....446 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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