PDVSA announces local bond issue of $3 billion

摘要

Caracas-Venezuela's state-owned oil company PDVSA announced late June 25 a $3 billion issue of Petrobono 2011 bonds, maturing in July 2011. In a statement following weeks of speculation, PDVSA said the bond issue has been approved by the central bank. The bond issue is open to investors who need to be residents of Venezuela and it can only be traded in the local currency. However, it will be denominated in US dollars, with a minimum denomination of $2,000 at the official rate of Bolivars 2.15 to a US dollar. A single payment will be made on maturity.