March 27, 2007
Pdvsa announces price for bonds (Agencia Bolivariana de Noticias).- "The Venezuelan state-owned company (Pdvsa) fixed at 105.5% the price for the set of bonds offered up to $5 billion.
The 105.5% price sets the minimal amount of investment in Bs. 2,268,250.
Pdvsa also announced that the 10-year bond will accrued a 5.25% coupon (2017); 5.3% earned for 20-year bonds (2027) and 5.5% for 30-year bonds (2037).
According to the initial announcement made by Pdvsa, the minimal investment amount is $1,000 formed by three bonds with different expire dates: 10, 20 or 30 years.
The total offer reaches $ 2 billion for 10 and 20-year bonds while the offer of the 30-year bond is up to $ 1 billion.
The main purpose of the bonds is to promote the internal saving 'through the investment of the Venezuelans and their direct participation over the profits obtained by the oil industry,' Pdvsa informed through an official communiqué.
Based on the Pdvsa schedule, the requests to purchase the bonds will be received until next Thursday 30th". |