Another Bono del Sur on the Way

Venezuela’s government said it plans to issue this month approximately $1.2bn-$1.3bn in Bonos del Sur, according to wire reports. The bonds, a combination of Argentine dollar-denominated Boden and Venezuelan devaluation-protected securities, can be stripped after the issuance and sold separately. The offering was downsized from a planned sale of $1.5bn that was cancelled in August due to market volatility.