Venezuelan Increases Bond Sale To $3 Billion

Venezuela extended its $1.5 billion dollar-denominated bond sale up to $3 billion as strong demand saw the sale oversubscribed by almost seven times, according to government reports. The government had originally offered domestic investors $750 million of bonds due 2016 at a yield of 5.75% and $750 million of bonds due 2020 at a yield of 6%. Buying dollar-denominated bonds is a way for local investors to access dollars following restrictions imposed on them by the government.