Venezuela sets non-competitive price for $1 billion floaters at 109

New York, April 12 - The Bolivarian Republic of Venezuela announced the price for non-competitive bids in its auction of $1 billion of seven-year floating-rate notes will be 109.00.

As previously announced, 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.

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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