Petrobras continues debt reduction with $2bn buy-back

Oliver West

October 22, 2020 09:15 pm

Petrobras, 575, LatAm, oil, quasi sovereign, Brazil — (200310) -- SAO PAULO, March 10, 2020 (Xinhua) -- A woman passes by a Petrobras gas station in Sao Paulo, Brazil, March 9, 2020. Plummeting oil prices amid the potential fallout from a coronavirus pandemic impacted stock markets on Monday, including Sao Paulo's, which opened with a 10-percent drop. The steep fall triggered a so-called circuit breaker, a measure that suspended operations for half an hour. (Photo by Rahel Patrasso/Xinhua) | unreguser/Xinhua News Agency/PA Images

Brazilian oil company Petrobras this week announced it will spend $1.95bn on repurchasing existing bonds via a tender offer, as the rapid pace of its reduction continues.

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Oliver West

US Bureau Chief - Latin America Editor