Argentina, Venezuela Launch Bono Sur II

Argentina and Venezuela launched their second joint bond on Monday, with the second offering of the so-called “Bono del Sur”. The sovereigns have upped this issue from $1 billion to $1.5 billion, comprising $750 million of Venezuela’s dollar-denominated TICCs, maturing 2019, and the same amount of Argentina’s dollar-denominated Boden 2015. Venezuela’s finance ministry said the bond would be sold at 112.6% of its face value. Venezuela and Argentina sold $1 billion of the first Bono del Sur last November.