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PdVSA To Sell $1.5B Bonds To Repay CenBank

Venezuelan state oil monopoly Petroleos de Venezuela (PdVSA) will raise $1.5 billion through a reopening of a 2022 bond issue to repay the central bank.

June 23, 2011

Venezuelan state oil monopoly Petroleos de Venezuela (PdVSA) will raise $1.5 billion through a reopening of a 2022 bond issue to repay the central bank,The Wall Street Journalreports. The company is expected to sell additional securities in the second half of the year.

PdVSA issued the 2022 bonds initially in February in a $3 billion placement. The company has nearly $2.5 billion of debt maturing in early July. Since August, PdVSA has raised $4.75 billion by selling more of its bonds due in 2014 and 2017 in private placements, addsBloomberg.

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PdVSA issued the 2022 bonds initially in February in a $3 billion placement. The company has nearly $2.5 billion of debt maturing in early July. Since August, PdVSA has raised $4.75 billion by selling more of its bonds due in 2014 and 2017 in private placements, addsBloomberg.

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