Friday,
25 July
Exchange Agreement No. 4 Signed
Public debt bonds issued in foreign currency
(Venezuelan Council for Investment Promotion
-CONAPRI) - The Ministry of Finance and the
Central Bank of Venezuela (BCV) have signed Exchange
Agreement No. 4, containing the regulations that
will govern the purchase, in bolivars, of bonds
denominated in foreign currency issued by the
Republic. This agreement also sets the rules for
a special system applicable to financing programs
implemented by Banco de Comercio Exterior (Bancoex).
The agreement was published in Official Gazette
No. 37,737 dated July 22, 2003.
This
agreement allows for the purchase in bolivars
on the primary market (the market where bonds
are first issued) of bonds that are about to be
issued denominated in foreign currency; the bonds
would be bought at the exchange rate stipulated
in Exchange Agreement No. 2, in other words Bs.1,600,00
per dollar. These bonds offer a coupon rate of
7% per semester, and their maturity date is 2010.
