Bono Del Sur Revived

November 2006 | Market Strategy

Venezuelan Finance Minister Nelsen Merentes announced yesterday that the country will launch the Bono del Sur with Argentina in the first two weeks of November. Merentes reiterated that an initial US$1bn worth of debt will be sold and the amount issued will be equally divided between the two countries. A further US$4bn could follow at a later stage, depending on demand. The instrument will be dollar-denominated, although it is believed that the bond will be payable in bolivars in Venezuela.

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