September 25, 2017 / 12:24 PM / a year ago

Investors agree to swap $6.2 billion of old Petrobras debt for new notes

SAO PAULO (Reuters) - Holders of $6.22 billion worth of Petróleo Brasileiro SA bonds due between 2019 and 2021 have agreed to swap them for new seven- and 10-year securities, helping Brazil’s state-controlled oil producer trim a debt burden that is the largest among major oil firms.

FILE PHOTO: The logo of Brazil's state-run Petrobras oil company is seen on a tank in at Petrobras Paulinia refinery in Paulinia, Brazil July 1, 2017. REUTERS/Paulo Whitaker

In a Monday securities filing, Petrobras (PETR4.SA) said $2.285 billion worth of old debt will be swapped into the 5.299 percent bond due in 2025, and $3.935 billion worth of old debt into the 5.999 percent security maturing in 2028, respectively.

Results for a susbsequent repurchase of old notes will be released by Sept. 27, the filing said. The deadline for both the swap and repurchase tenders expired at 5 p.m. ET (2100 GMT) on Sept. 22, the filing said.

Reporting by Guillermo Parra-Bernal

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below