Petrobras Energia to Buy Back US$7.8mn Bond
Argentine energy company Petrobras Energia plans to buy back US$7.8mn of dollar-denominated series O debentures issued in March, the company said in a statement to the Buenos Aires stock market on Monday. The statement did not give a reason for the decision, and Petrobras officials could not be reached for comment Monday.
Petrobras Energia (formerly Pecom Energia) placed US$33mn in one-year debentures denominated in US dollars and Argentine pesos, to pay part of a US$35mn bond payment due on March 21. The dollar-denominated series O debentures were for US$29.2mn and pay 7.5% annual interest, while the US$3.6mn peso or dollar denominated series P pays 8.5% annual interest. It was Pecom Energia's first bond issue since its parent company Perez Companc was bought out by Brazil's state owned oil company Petrobras (NYSE:PBR) in October 2002.
About Business News Americas: Business News Americas is a multilingual news and business information service that covers the most important original stories in 11 different business sectors throughout Latin America everyday. Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports.
Click here for a Free two week trial to our Latin America Oil & Gas information service.
Operates 35 Offshore Rigs
Manages 13 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)