Venezuela Billion Bond Issue
Venezuela´s state oil company PDVSA will issue bonds amounting nearly 5 billion dollars on Monday, with terms for 10, 20, and 30 years, its president Rafael Ramirez announced.

Bids will be received March 26-29, Ramirez, who is also energy and oil minister, indicated, adding the issue has been already authorized and they have established a mechanism which, for the first time, makes the most of Venezuelans´ participation in business plans and results of the national oil industry.

The conditions of the issue will be made known early next week, the official announced, adding priority will be given to small investors.

The action will allow PDVSA to get resources for a large investment program aimed at increasing capacity to produce oil in the country.

Experts from consultancy firms agree the action will prevent the Venezuelan public debt from increasing, as they will no longer ask for credits to foreign bank institutions.