Brazil's Petrobras says bond buy-back demand exceeded $4 bln offer - statement
Adds details
RIO DE JANEIRO, Sept 17 (Reuters) - Brazil's state-controlled oil producer Petroleo Brasileiro SA PETR4.SA said investors' appetite for a global bonds buyback exceeded $4 billion initially offered in Sept. 10, the company said in a statement on Thursday.
The offers expired on Wednesday and the settlement date is Sept. 21, said Petrobras, as the state-controlled company is known.
The buyback is part of Petrobras' strategy to extend debt maturity and reduce its financial costs.
The offer totaled $3,500,381,246.30, Petrobras said. The producer hasn't accepted all the offers, which is allowed by the buyback terms when the total amount offered by investors exceeds the limit, Petrobras said.
(Reporting by Sabrina Valle; editing by Jonathan Oatis)
((Sabrina.Valle@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
