Analysis of Petroleo Brasileiro S.A. (Petrobras) financial situation and bond trading strategies. Discusses the company's maturity wall, subordination risk, cash burn, asset sales, and lack of government support. Initiates pair trades and evaluates yield and price changes. Highlights key risks including oil prices, production, Brazilian macro/fiscal dynamics, and leverage.
doj/DataSet10/EFTA01380757.pdf
{"document_date":"2015-10-07","document_type":"financial","key_locations":["Brazil"],"key_organizations":["Petroleo Brasileiro S.A.","Deutsche Bank Securities Inc."],"reference_numbers":["DB-SDNY-0079284","SDNY_GM_00225468","EFTA01380757"]}