ESPACIO PUBLICITARIO
CARACAS, Monday January 28, 2013 | Update
 
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PUBLIC FINANCE | Pdvsa's chairman said

Venezuelan state-run oil company rules out a US dollar bond sale

The president of Venezuelan state owned oil company Pdvsa noted that the company will not take on further debts via US dollar bond sale

Pdvsa’s debt swelled 14.7% in 2012 (Photo: AVN)
EL UNIVERSAL
Monday January 28, 2013  04:25 PM
The president of Venezuelan state-run oil company Pdvsa, Rafel Ramírez, said on Monday that the company has no intention of engaging in a new bond issue.

"We are issuing no bonds, and, particularly, we will not continue issuing bonds   to take on debts in US dollars. That is not envisaged," the minister told the press.

The oil company's debt ended in 2012 at USD 40.02 billion, 14.7% above the numbers recorded a year earlier, AFP reported.

Translated by Jhean Cabrera
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Following a wave of nationalizations carried out by the late President Hugo Chavez between 2007 and 2012, Venezuela has become the second most frequent respondent to investment treaty arbitration in the world (38 cases in total), after Argentina.

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