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Published on 4/7/2004 in the Prospect News Emerging Markets Daily.

Venezuela to sell $1 billion seven-year floaters

By Peter Heap

New York, April 7 - The Bolivarian Republic of Venezuela said it will offer $1 billion of seven-year floating-rate notes via an auction.

The securities will pay a coupon of Libor plus 100 basis points and mature in April 2011. Payments will be in bolivars at the official exchange rate.

The non-competitive bid price will be set on April 12, competitive bids will be accepted up to April 15 and pricing will be on April 16. Settlement is scheduled for April 22.

Dresdner Kleinwort Wasserstein and UBS Investment Bank are running the Regulation S offering.


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