By Reshmi Basu and Paul A. Harris
New York, March 7 - The Bolivarian Republic of Venezuela priced €1 billion 10-year bonds (B2/B/B+) at 99.301 with a 7% coupon to yield 7.10%, according to a market source.
The new sovereign bonds came inside of initial price guidance of 7.20%. Guidance had been revised to 7.10% to 7.15%.
Deutsche Bank Securities and UBS Investment Bank managed the sale.
Proceeds from the sale will be used to finance debt payments.
| Issuer: | Bolivarian Republic of Venezuela
|
| Amount: | €1 billion
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| Issue: | Global bonds
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| Maturity: | March 16, 2015
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| Coupon: | 7%
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| Issue price: | 99.301
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| Yield: | 7.10%
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| Pricing date: | March 7
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| Settlement date: | March 16
|
| Managers: | Deutsche Bank Securities, UBS Investment Bank
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Fitch: B+
|
| Price guidance: | 7.10% to 7.15%; revised from 7.20% area
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