Petrobras: Agreement With Creditors Eliminates Risk Of Default Declaration
RIO DE JANEIRO, Jan 6 (Reuters) - Brazil's Petrobras completed talks with creditors about the release of its delayed unaudited third-quarter financial results, the state-run oil company said in a securities filing on Tuesday.
Under the agreement, Petroleo Brasileiro SA, as Petrobras is formally known, will be able to deliver its results by the end of January as the company announced on Dec. 29. Under the terms of some bond agreements, Petrobras was required to deliver investors unaudited financial statements by Dec. 29 or risk a declaration of default.
Such a declaration, which could have led to a forced early repayment of debt, has been eliminated, the statement said.
(Reporting by Jeb Blount and Caroline Stauffer in Sao Paulo; Editing by Bernard Orr)
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.
Operates 34 Offshore Rigs
Manages 10 Offshore Rigs
- Exxon, Petrobras Form Alliance To Develop Oil, Gas Projects (Dec 14)
- Natural Gas In Petrobras Pipelines Up About 23% In 2017 (Dec 05)
- Petrobras CEO Says To Discuss Refining Partnership With CNPC CEO (Nov 15)