TICC Launch To Stem Decline In Parallel Rate?

November 2006 | Market Strategy

The Venezuelan government confirmed yesterday that it will soon issue special domestic bonds worth VEB1.7bn (US$800mn), with maturities varying between 2017 and 2022. The instruments are called Titulo de Interes y Capital Cubierto (TICC - principal and interest covered bonds) and are indexed against the official bolivar exchange rate, offering bondholders protection against a potential devaluation.

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