By Christine Van Dusen
Atlanta, Oct. 18 - Petroleos de Venezuela SA (PDVSA) priced $3 billion bonds due 2017 at par to yield 8½%, a market source said.
Investors can buy the notes at a rate of 4.3 bolivars to the dollar and then trade the bonds in dollars in the secondary market.
The notes are offered concurrently with a debt swap of $3 billion 2011 local-law bonds for a new 8% semiannual 2013 Luxembourg law bond.
PDVSA is a Caracas, Venezuela-based state-owned oil company.
| Issuer: | Petroleos de Venezuela SA
|
| Amount: | $3 billion
|
| Maturity: | 2017
|
| Description: | Bonds
|
| Coupon: | 8½%
|
| Price: | Par
|
| Yield: | 8½%
|
| Trade date: | Oct. 18
|
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