SAO PAULO, Sept 18 (Reuters) – State-controlled Petróleo Brasileiro SA will issue up to $2 billion in new bonds as part of a plan to repurchase shorter-dated, expensive securities and trim the biggest debt burden among the world’s major oil companies.
Petrobras, as the company is known, will issue $1 billion each of the new secured bonds maturing in 2025 and 2028, according to a Monday securities filing. The sale of the new bonds is subject to market conditions and the repurchase offer to the older securities – which include bonds maturing between 2019 and 2021 – expires on Sept. 22, the filing said.
(Reporting by Guillermo Parra-Bernal; Writing by Ana Mano; Editing by Chizu Nomiyama)
Copyright 2017 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.