Petrobras (NYSE:PBR) has been in the news recently because of its enormous equity offering of $67 billion in common and preferred shares of the company, generating massive media coverage because it's one of the largest equity deals in history.
Global bookrunners like Citigroup (NYSE:C), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) didn't fare as well though, as the fees from the deal won't do much to add to the bottom line of the company.
Fees for the overall deal came to only $147.2 million, a little over 0.20 percent of the deal.
Similar to other deals, the low fees were spun as irrelevant in relationship to the knowledge the participating banks would receive, and marketed as steps to numerous other deals in the near future.
Banco Bradesco of Brazil was the lead manager for the offering, with Grupo Santander of Spain and Banco Itau of Brazil also participating.
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