Brazil's Petrobras cancels plan to sell local-market bonds
RIO DE JANEIRO Jan 15 (Reuters) - Brazil's state-led oil company Petroleo Brasileiro SA said on Friday it had canceled plans to sell as much as 3 billion reais ($744 million) of local-market bonds after being unable to sell the debt at rates acceptable to both the company and investors.
Petrobras, as the company is commonly known, had interrupted its plan to sell the debt in October in the hope that market conditions would improve.
($1 = 4.0312 Brazilian reais) (Reporting by Jeb Blount; Editing by Mark Potter)
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