International bonds: Venezuela, FRN 31mar2020, USD
VEP97497BB94

Placement amount

211,139,000 USD
Outstanding amount

133,000,000 USD
Minimum Settlement Amount

100,000 USD
ISIN

VEP97497BB94
FIGI

BBG0007CDWN5
Ticker

VENZ F 03/31/20 +X-B

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Bond is not traded; the issue is redeemed

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Issue information

Profile

Issuance of Venezuelan global bonds reached USD 7.4bn in 2010. The government of Venezuela sold USD3.0bn worth of global bonds in international debt capital markets in 2010. PDVSA raised USD4.1bn in global bonds. During the first three quarters of 2011 flow of global bonds from Venezuela totaled USD10.35bn, including 4.2bn of Venezuelan sovereign bonds and USD6.15bn of Bonos PDVSA.
Venezuelan bond market is state-run. State companies, joint ventures, community councils and private companies must be authorized to sell debt. The public bond transaction system called SITME is used instead of Forex market.
“The bulk of the securities currently exchanged through the SITME system are dollar denominated bonds issued by Venezuela's oil company and the government. The Central Bank holds the securities and sells them to Authorized Financial Institutions at a price that reflects the SITME exchange rate of 5.3 VEF/US$. Individuals and companies that wish to access dollars need to place specific orders with their banks. Then the banks, on behalf of their clients, buy the dollar denominated bonds from the Central Bank with Venezuelan Bolivares. When US dollars are required, the client instructs their bank to sell these bonds out in the international market, thus generating the US dollars that the client needs. The dollars are then transferred to the client's bank account for a commission.”- EDC Economics reports.

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Borrower

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Venezuela
Full borrower / issuer name

Ministry of Economy and Finance of the Venezuela
Sector

sovereign

Volume

Placement amount

211,139,000 USD
Outstanding amount

133,000,000 USD

Nominal

Minimum Settlement Amount

100,000 USD
Outstanding face value

*** USD
Integral multiple

*** USD
Nominal

1,000 USD

Cash flow parameters

Reference rate

6M LIBOR USD
Coupon Rate

***
Day count fraction

***
Business Day Convention

Modified Following Business Day

Interest Accrual Date

***
Coupon frequency

*** time(s) per year
Payment currency

***
Delay days

*** days
Maturity date

***
Early redemption date

***

Cash flow

Calculations for international bonds are made according to the minimum trading lot

Export to Excel

Early redemption terms

***

Debt Servicing

DATA PLATFORM FOR FINANCIAL MARKET PROFESSIONALS AND INVESTORS

High performance interface for global bond market screening
Full information on close to 500,000 bonds from 180 countries
100% coverage of Eurobonds worldwide
Over 300 primary sources of prices
Ratings data from all international and local ratings agencies
Stock market data from 100 world trading floors
Intuitive, high speed user interface
Data access via the website, mobile application and add-in for Microsoft Excel

Placement

Placement method

Open subscription
Placement type

Public
Order book

*** (***) - *** (***)
Coupon (Yield) Guidance

***% - ***% (*** - ***%)
Issuer rating on issue date (M/S&P/F)

*** / - / -
Placement

*** - ***
Initial issue price (yield)

(***%)
Bids

*** USD
Number of bids

***
Geographic breakdown

***
Investor breakdown

***
Listing

***

Conversion and exchange

Convertion date

***
Initial premium

***%
Convertible until

***
Lock-up

*** days
Conversion terms

***

Additional information

***

Latest issues

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News

21/09/2021	S&P Global Ratings withdrew Local Currency LT credit rating for Venezuela
21/09/2021	S&P Global Ratings withdrew Foreign Currency LT credit rating for Venezuela
20/09/2021	Moody's Investors Service withdrew LT- local currency credit rating for Venezuela
17/09/2021	Moody's withdraws Government of Venezuela senior unsecured ratings for business reasons (Rating action commentary)
21/09/2020	Venezuela's government makes an offer to bondholders before the expiration

All organization news

Related entities

In which the company has interests

Identifiers

Registration

***
Date of program registration

***
ISIN

VEP97497BB94
CUSIP

***
CUSIP 144A

***
FIGI

BBG0007CDWN5
Ticker

VENZ F 03/31/20 +X-B
Type of security by CBR

***

Ratings

Bond classification

Coupon bonds
Variable rate
Amortization
Callable
CDO
Convertible
Dual currency bonds
For qualified investors (CIS region)
Foreign bonds
Green bonds
Guaranteed
Indexed
Supranational bond issues
Mortgage bonds
Perpetual
Payment-in-kind
Non-Marketable Securities
Redemption Linked
Restructuring
Retail bonds
Covered
Securitization
Structured product
Subordinated
Sukuk
Trace-eligible