Venezuela returns from the wilderness with $1.5bn bond to fund Brady tender

The Bolivarian Republic of Venezuela made a strong return to the dollar bond markets last Friday with the launch of a $1.5bn global bond designed to fund a Brady bond tender.

  • 08 Aug 2003

Lead managed by Credit Suisse First Boston, the liability management exercise retired Brady bonds with a face value of $3.8bn.

It was a key test of investor sentiment towards Venezuela, which last tapped the dollar bond markets in 1998.

Sentiment towards Venezuelan debt plunged at the end of March when President Hugo Chavez said ...

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