Petrobras Postpones $790 Million Debt Sale
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A Petrobras oil platform in Guanabara Bay in Niterói, Brazil. CreditLeo Correa/Associated Press
SÃO PAULO, Brazil — The troubled energy giantPetrobras has suffered a setback in its effort to put its financial house in order. The company announced on Thursday that it was postponing an offer to sell at least three billion reais, or about $790 million, of debentures in the local capital markets.
The company’s statement said it was “interrupting” the offer as a result of “adverse conditions in the Brazilian capital markets.”
The offer was the company’s first effort to tap the capital markets since its century bond in June. The century bond was considered a success at the time, but since then its value has plummeted as concerns over the company’s finances mount…
Petrobras Postpones $790 Million Debt Sale
