Venezuela's PDVSA announces private offering of $4.5 billion of bonds

By Caroline Salls

Pittsburgh, Nov. 13 - Petroleos de Venezuela, SA (PDVSA) announced a private offering for $4.5 billion of bonds due 2026, according to a news release.

Of the total offering amount, $1.5 billion will be offered through a private placement through the Central Bank of Venezuela and $3 billion will be offered to PDVSA providers.

The coupon will be 6%.

Proceeds will be used to finance investment projects, including investment for social and comprehensive development in Venezuela.

Petroleos de Venezuela is a Caracas, Venezuela, state-owned petroleum company.

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