Petrobras F1 charm offensive gives access to international capital markets

RAISING THE EQUIVALENT of €40bn in today’s volatile debt markets is a big task for even the best known global corporation. Outside the FTSE and the Dow, companies have not only got to have a big story to tell, but also the platform from which to tell it. Brazilian oil major Petrobras is a company in a hurry and with oil climbing steadily above $100 dollars/barrel it is keen to bring new developments on-stream. To raise the sums of money required it is approaching international investors who may just be more familiar with the name than they were a few years ago. Confidence is a valuable commodity in financial markets and Petrobras’ $9m sponsorship of the Lotus F1 team may come to be seen as a very cost effective way of acquiring it. - 11/2/2011