El Venezolano III Expected Next Week

Venezuela’s $1.8bn bond offering is expected to launch next week, according to Caracas newspaper El Universal. The government has stated it expects a sale to take place this month, directed at companies that import food, medicine and machinery. It is expected to be similar to the previous El Venezolano issues. The government sold $2bn in the Venezolano I and II in November, which combined dollar and local-denominated debt in a sale designed to allow access to dollars and reduce pressure on exchange rates.