Venezuela to Sell $3 Billion of 15-Year Dollar Bonds
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Venezuela will offer $3 billion of bonds in the local market, swelling dollar debt sales this year to $7.2 billion, as the country seeks to finance spending and meet investor demand for foreign currency.
The government will sell the 11.75 percent bonds due in 2026 to local investors, who will pay with bolivars at the official foreign-exchange rate of 4.3 bolivars per dollar, according to a statement posted on the Public Credit Office’s website. Credit Suisse Group AG and Evrofinance Mosnarbank SA will manage the sale, the statement said.