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Petroleos de Venezuela to make combined $5 billion international bond offer
By Caroline Salls
Pittsburgh, March 23 - Petroleos de Venezuela SA will make a combined up to $5 billion offer of three international bond issues due in 2017, 2027 and 2037, according to a company news release.
The offer will launch Monday and expire Wednesday, and the price and coupon will be announced Monday.
Results of the offer will be announced on April 2 and the bonds will be issued on April 12.
The company will issue up $2 billion each of the 2017 bonds and 2027 bonds and up to $1 billion of the 2037 bonds.
The 2017 bonds will mature on April 12, 2017; the 2027 bonds on April 12, 2027; and the 2037 bonds on April 12, 2037.
Proceeds will be used for capital investments.
Petroleos is Venezuela's state-owned oil company.
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