5 Oct

Who’s ahead in Integrated Energy This Week?

WRITTEN BY Nicholas Chapman

Petroleo Brasileiro leading integrated energy stocks gains

So far this week (starting October 2, 2017), Petroleo Brasileiro (PBR) is at the top of the list of gainers in our select integrated energy group. PBR has risen from last week’s close of $10.04 on September 29 to $10.40 on October 4—a ~4% rise.

PBR stock rose more than 1% on Tuesday, October 3, as the market opened, after the company provided an update on its bank debts and financing. On Monday, October 2, after the market closed, PBR announced that it had executed prepayment, renegotiations, and new financing operations totaling $6.3 billion with various banks.

Who’s ahead in Integrated Energy This Week?

Specifically, PBR repaid debt totaling ~$2.7 billion, which had an original maturity in 2019, and renegotiated the existing maturity on $570 million in debt from 2018—2019 to 2021—2022. PBR also managed to get new financing from Bank of America totaling $1.13 billion, with a maturity of 2022—2023, after repaying its existing debt of $1.5 billion.

PBR also completed its financing operation with BNDES for ~$450 million. This new financing operation is linked with PBR’s Nitrogen Fertilizer Unit III and has a maturity of 2024.

PBR has seen a strong uptrend since the end of June 2017 and has risen ~35% since then.

Other gaining stocks this week

Other notable gainers in the integrated energy group include YPF Sociedad Anonima (YPF), BP Amoco PLC (BP), Royal Dutch Shell (RDS.A), and PetroChina (PTR), which have risen 1.66%, 0.57%, 0.53%, and 0.09%, respectively, so far this week.

Notably, the iShares US Energy ETF (IYE), which has exposure to integrated heavyweights like ExxonMobil (XOM) and Chevron (CVX), has fallen 0.24% so far this week, while the SPDR Dow Jones Industrial Average ETF (DIA) has risen 1.16%.

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