Brazilian state-owned banks, Banco do Brasil, BNDES, and Caixa Economica Federal, are reportedly considering converting part or all of their outstanding loans to Petrobras (Petroleo Brasileiro) into equity; Petroleo Brasileiro is currently the world's most indebted oil company. Petroleo Brasileiro is thought to currently owe $130bn to banks, bondholders, and other creditors, including $22bn to BTG Pactual, which has also raised the possibility of a debt-to-equity conversion.
Brazilian state-owned banks, Banco do Brasil, BNDES, and Caixa Economica Federal, are reportedly considering converting part or all of their outstanding loans to Petroleo Brasileiro (Petrobras) into equity; Petrobras is currently the world's most indebted oil company. Petrobras is thought to currently owe $130bn to banks, bondholders, and other creditors, including $22bn to BTG Pactual, which has also raised the possibility of a debt-to-equity conversion.