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ISSUES....
Inside, confidential and off the record
Petrobono fiasco
Stockbrokers were worry that all the PDVSA new USD$ bonds issue PETROBONOS as they are called that was launched this week for a total of USD 3 billion, due in 2014, 1015 and 2016, was going to be left out in their desk. There was simple not interest by the public in the issue. Yesterday PDVSA and the Central Bank of Venezuela (BCV) made some moves to make the issue more appetizing to investors. A few hours before closing the bid, the extended it one day, until Friday, also the Ministry of Finance decided to exempt the titles from the income tax that would have been applied to the interest rates earned by the PDVSA Petrobonos bonds, and the BCV reported that the Petrobono sale will not be part of the foreign currency stock of the Venezuelan financial institutions -a move intended to get the banking sector to mve the titles. Good luck !
ISSUES.... 10/23/09
ISSUES.... Inside, confidential and off the recordIs an independent journalist effort from Petroleumworld, on Inside, Confidential and Off The Record Information, its views are not necessarily those of Petroleumworld - Send Us Your Issues
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