PDVSA to Issue $1.5 Billion of Bonds to Pay Central Bank

Petroleos de Venezuela SA will sell $1.5 billion of bonds to the central bank to repay a loan and will likely sell additional securities in the second half of the year, a government official said.

PDVSA, as the state oil company is known, within a month plans to issue more of its bonds due 2022 that were first sold in February, the official, who asked not to be identified because he isn’t authorized to speak publicly on the matter, told reporters.