Petrobras Aims to Raise $40 Billion in Five Years

Nov. 8 (Bloomberg) -- Petroleo Brasileiro SA, Brazil’s state-controlled oil producer, plans to raise $40 billion in the next five years through bank loans and bond sales.
Petrobras also needs to refinance $38 billion in debt that is due through 2014, Chief Executive Officer Jose Sergio Gabrielli said today at an event in Sao Paulo. Petrobras expects oil prices to average $65 a barrel to $85 a barrel through 2015, helping to finance spending, Gabrielli said.
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Source: Bloomberg