CARACAS, Monday October 18, 2010 | Update
Petróleos de Venezuela (Pdvsa), the state-owned oil corporation, reported on Monday on the conditions for its Bond 2017, for which at least USD 3 billion in debt will be issued. The bond will have a 100-percent or par value, including an 8.5-eprcent coupon, at it will be awarded with orders of at least USD 3,000.
Purchase orders will be received until Friday, October 22, at 12:00 m., Venezuelan local time. Bonds will be aimed at individuals and corporations based in Venezuela and financial entities monitored by the Banks Superintendence.
The maturity date of the bond is November 2, 2017, according to the leaflet on the takeover bid made by Pdvsa.
With reporting by Ernesto J. Tovar
02:57 PM. HEAVY RAINS. Venezuelan Executive Vice-President Elias Jaua reported that the government is designing plans to support farmers, cattlemen and peasants of the state of Mérida who have been hit by heavy rains that have caused crop losses.