Earlier this summer Petroleo Brasileiro SA (a/k/a Petrobras) sold 100-year bonds. However, what seemed like a move in the right direction for Petrobras, may have been a major misstep for investors.
According to www.bloomberg.com, “Since the $2.5 billion offering, the bonds have tumbled 15 percent. That’s four times the average loss for emerging-market company debt.”
In addition, Petrobras had its credit rating cut to junk by Standard & Poor’s. Pimco, Fidelity, and Capital Group appear to be the largest holders of Petrobras’s century bonds.
The foregoing information, which is all publicly available, is being provided by The White Law Group.
The White Law Group is investigating the liability that brokerage firms may have for recommending risky investment. Brokerage firms are required to perform adequate due diligence on any investment they recommend and to adequately disclose the risks of any investment.
If you suffered losses investing in bonds and would like to discuss your litigation options, please call the securities attorneys of The White Law Group at (312)238-9650 for a free consultation.
The White Law Group is a national securities arbitration, securities fraud, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group, visit www.whitesecuritieslaw.com.