Not The Onion: Petrobras Files For 100 Year Bond Offering

Would you lend money to a group of people involved convicted fraudulent activity whose people were, among other issues, accused of altering financial statements to cover up corruption? Would you also lend these same people money for 100 years into the future? This is what  Petrobras, one of the most indebted firms in the world with $133 billion in outstanding obligations, is asking investors for: $2.5 billion over a 100 year term.

Petrabras is Brazil’s government-controlled oil company that has had its fair share of scandal as of late. But what the firm does have is access to oil and other energy related property, and the company, in dire need of immediate financial assistance, wants to borrow money now and...