Petrobras buys back bonds of nearly $2bn
October 23, 2020
Petrobras, a Brazilian oil company, had been holding a tender offer from October 13 to October 19 for its outstanding Eurobonds to make a buyback for around $2 billion.
The company decided to partially repurchase 10 of its EUR and USD outstanding Eurobonds under the tender offers, except the longest one - 5.093% 15jan2030.
In September 2020 the company carried out a partial repurchase of its Eurobonds through a cash tender offer of about $4 billion. Between 2015 and 2019, Petrobras almost halved its debt from $126 billion to $63 billion.
The last reopening for $1 bn. of the 5.6% 3jan2031 note at 109.58% is the smallest in ten years.
Company — Petrobras
Full namePetroleo Brasileiro S.A.
IndustryOil and gas