Published on 4/8/2005 in the Prospect News Emerging Markets Daily.
New Issue: Venezuela sells $1.604 billion 20-year bonds to yield 7.65%
By Caroline Salls
Pittsburgh, April 8 - The Bolivarian Republic of Venezuela said it sold $1.604 billion of its sovereign bonds due April 21, 2025 at par to yield 7.65%.
Citigroup and J.P. Morgan handled the sale.
The issue was targeted toward local investors and the bonds were sold in bolivars at an exchange rate of 2,150 per dollar.
The deal came at the tight end of initial yield guidance of 7.65% to 8.10% and the high end of price guidance of 95 to 100.
Issuer: | The Bolivarian Republic of Venezuela
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Issue: | Sovereign bonds
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Amount: | $1,604,155,000
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Maturity: | April 21, 2025
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Coupon: | 7.65%
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Price: | Par
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Yield: | 7.65%
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Coordinating agents: | Citigroup and JP Morgan
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Settlement date: | April 21
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Distribution: | Regulation S
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