Venezuela to Sell $225 Million of Dollar-Denominated Bonds

by Guillermo Parra-Bernal
Dec. 12

Venezuela plans to sell $225 million of dollar-denominated bonds tomorrow to local investors.

The so-called Interest and Principal Protected bonds, known as TICC securities, mature in April 2017 and will pay an interest rate of 6.25 percent, the central bank said.

The government authorized last month the sale of at least $800 million of TICC bonds before the end of the year. It sold $500 million of the securities on Nov. 13 and $225 million last week. The central bank will take bids on the securities tomorrow between 9 a.m. Caracas time (8 a.m. New York time) and 10 a.m.