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Venezuela's PDVSA announces private offering of $5 billion 2024 bonds
By Caroline Salls
Pittsburgh, May 14 - Petroleos de Venezuela, SA (PDVSA) will make a private placement of $5 billion of 2024 bonds with a 6% coupon, according to a news release.
The bonds will have annual, equal and consecutive maturities in 2022, 2023 and 2024 and will be made through a private placement to public banks.
The PDVSA 2024 bond is being offered only outside the United States in accordance with Regulation S of the Securities Act and Rule 144A. The bonds may be purchased in the secondary market by investors in the United States that qualify as qualified institutional buyers under Rule 144A.
Proceeds will be used for corporate purposes and to finance projects and investments, including for investment and social development in Venezuela.
Petroleos de Venezuela is a Caracas, Venezuela, state-owned petroleum company.
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