By Reshmi Basu
New York, Dec. 3 - The Bolivarian Republic of Venezuela reopened its existing 9 3/8% bonds due Jan. 12, 2034 (B2/B/B+) in the local market to raise $500 million, the Finance Ministry said in a statement.
The global bonds priced at 123.5.
The retap, increased from an expected $250 million, priced in the middle of price talk. Talk had been set at 122 to 125.
The National Executive expressed its "satisfaction with the results of the issue."
Dresdner Kleinwort Wasserstein and ABN Amro ran the deal.
| Issuer: | Bolivarian Republic of Venezuela
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| Amount: | $500 million
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| Issue: | Reopening of the global bonds due 2034
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| Maturity: | Jan 12, 2034
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| Coupon: | 9 3/8%
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| Issue price: | 123.5
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| Pricing date: | Dec. 3
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| Settlement date: | Dec. 10
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| Managers: | Dresdner Kleinwort Wasserstein, ABN Amro
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Fitch: B+
|
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