Petrobras puts up cash for bond buyback

Petrobras puts up cash for bond buyback

Corporate & Sovereign Strategy Bonds Debt Fixed Income Capital Markets Brazil Oil

Brazil's state-owned oil company Petrobras plans to use cash on hand and will not issue new bonds to fund the buyback of notes that mature between 2024 and 2115, according to a source involved in the deal. Petrobras is looking to repurchase up to $750 million in 12 series of bonds that mature from 2024 to 2034 and another $750 million in eight series of notes that come due between 2040 and 2115, the oil company said in a press release on Wednesday. Bank of America, Bradesco BBI, Crédit Agricole,

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