Petroleos de Venezuela (PdVSA) is seeking to raise around $3.15 billion through a reopening of its existing bonds, The Wall Street Journal reports. The Venezuelan state-run oil company will sell the securities to the Central Bank of Venezuela and other funds through a private placement.
The bonds, which were originally sold in October and carry a coupon of 8.5%, are due to mature in November 2017. The Venezuelan government had previously authorized a $6 billion PdVSA bond sale.
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