Venezuelan state oil firm Pdvsa may issue debt bonds in local currency

Seeking financial resources in local currency (bolivars), Venezuelan state-run oil company Pdvsa may issue debt bonds in bolivars.

When asked about the means of financing of the oil company, Pdvsa President Rafael Ramírez would not make it clear when the next bond sale would take place. He informed, however, that "such sale may be carried out in bolivars."

Ramírez outlined that the "Government has been making important debt issues within the framework of the Indebtedness Law and we would be doing a bond issuance as well," adding that the bonds may be issued as early as this year. 

"This matter is coordinated with the Ministry of Finance. Should we make a bond sale, we will inform through the press," yet "I do not want to prompt speculation" in the bonds market, he remarked.

With respect to the resources used by the Central Bank of Venezuela (BCV) to finance the oil company, the president of Pdvsa said such information should be requested to the president of the central bank, Nelson Merentes. 

Translated by Jhean Cabrera