PDVSA to Sell $3 Billion Bond to Meet Dollar Demand
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Petroleos de Venezuela SA, the state oil company, plans to sell $3 billion of bonds in the local market as part of effort to meet demand for U.S. currency.
PDVSA, as the Caracas-based company is known, will provide further details on the sale of the 2017 bonds in a prospectus on Oct. 18, the company said in an e-mailed statement. Investors will be allowed to buy the dollar-denominated bonds with bolivars, according to the statement.