CARACAS Oct 12 Venezuelan state oil company
PDVSA said on Wednesday night it was again extending a deadline
for a bond swap to Oct. 17 from Oct. 12.
The cash-strapped company had already extended the first
deadline earlier this month and said that bondholder
participation was below a key threshold.
PDVSA last month offered to swap $7.1 billion in outstanding
issues for a new bond, backed by its U.S. subsidiary Citgo
Holding Inc, to boost its cash-strapped coffers.
But the proposal drew market scepticism, so the
Caracas-based company late last month sweetened the terms,
offering more 2020 bonds in exchange for bonds maturing in 2017.
(Reporting by Alexandra Ulmer; Editing by Bill Rigby)