OREANDA-NEWS. May 22, 2012. Petroleos de Venezuela, SA (PDVSA) announced the  PDVSA bond 2035 offering up to USD  3,000 million, with a coupon of 9.75% and maturing annual, equal and consecutive years 2033, 2034 and 2035; through a private placement and addressed directly to the Bank Central de Venezuela (BCV) and the Public Bank.

The PDVSA Bond 2035 has not been nor will be registered under the Securities Act of the United States of America (Securities Act of 1933) and it  is offered only outside the United States under Regulation S and Rule 144A of the above law, whereby PDVSA Bonds 2035 may be purchased on the secondary market for U.S. investors who qualify as "qualified institutional buyers" under Rule 144A.

This issue was authorized by the National Exchange under Article 2 of the Securities Market Law of the Bolivarian Republic of Venezuela and it has performed under the close coordination among  PDVSA, the People’s Ministry for Planning and Finance, the People's Ministry for Public Banking and Central Bank of Venezuela to follow the guidelines and policies established by the National Executive.

The funds obtained by placing PDVSA Bond 2035 will be for PDVSA?s corporate purposes to finance investment projects including programs for comprehensive and social development of the country.