Rum Maker to Revive Venezuela Local Market With Dollar Note
- Ron Santa Teresa to sell $300,000 in commercial papers
- The offering opens path for more companies seeking credit
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A rum maker is set to revive Venezuela’s dormant local capital market by selling the first dollar bonds from a private company in more than two decades.
Ron Santa Teresa, the country’s largest rum producer, received the government’s approval to sell $300,000 in commercial papers denominated in dollars, according to a statement published by Superintendencia Nacional de Valores (Sunaval). The last time a private Venezuelan company sold dollar debt was in the 90s, according to local brokers.