UPDATE 2-Venezuela's PDVSA offers 2020 bond swap, with 8.5 pct coupon

CARACAS, Sept 16 (Reuters) - Venezuela's state oil company

PDVSA launched on Friday an offer to swap debt maturing next

year for a new 2020 bond with a coupon of 8.5 percent in an

effort to ease its heavy short-term payment schedule.

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