By Reshmi Basu
New York, Sept. 29 - The Bolivarian Republic of Venezuela priced $790 million of 10-year global bonds (-/B/B+) to yield Treasuries plus 520 basis points.
The bonds, sold for cash, were part of a total issuance of $1.5 billion. The remaining $710 million were issued in exchange for Brady bonds (see separate story for details).
The notes are non-callable.
Barclays Capital and Merrill Lynch & Co. were lead managers.
Proceeds will be used for general purposes, including the refinancing of the country's domestic and external indebtedness.
Issuer: Republic of Venezuela
Amount: $790 million
Issue: Global bonds
Maturity: Oct. 8, 2014
Coupon: 8½%
Price: 95.056
| Yield: | 9.269%
|
| Spread: | 520 basis points
|
| Pricing date: | Sept. 29
|
| Settlement: | Oct. 8
|
| Managers: | Barclays Capital, Merrill Lynch & Co.
|
| Ratings: | Standard & Poor's: B
|
| Fitch: B+
|
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