Venezuela Announces Sale of $5 Billion in PDVSA Bonds

[BayCityProgressive]

Mérida, March 23, 2007 (venezuelanalysis.com)— On his radio program Aló Presidente Thursday night, President Hugo Chávez announced the launch of $5 billion in PDVSA bonds. The state-owned oil company, PDVSA, will sell these to the domestic market starting on Monday. Such bond issues have been met with strong demand and are meant to soak up excess cash in the economy and lower inflation.

"The bond is extremely solid because it is backed by of one of the most solid companies in the world, PDVSA," said Chávez last night, encouraging Venezuelans to invest. PDVSA will offer the bonds for 10, 20 and 30-year periods to all Venezuelan investors, but they will only be open for sale from Monday, March 26th to Thursday, March 29th.

"That's just four days for you to make your offer," said Chávez, alluding to the high demand that previous bonds have been met with. The recently issued Bonds of the South were quickly bought up by investors and didn’t meet the high demand.

The oil company bonds, which are denominated in U.S.-dollars, are in high demand among Venezuelan businesses and individuals anxious to acquire the U.S. currency amid strict currency controls. Although the bonds must be bought in Bolivars, investors can resell the bonds in dollars and the interest is also paid in dollars.

sorry here is the link: http://www.venezuelanalysis.com/news.php?newsno=2248

[Gabi Hayes]

1. dirty communists! I mean capitalists!

we still have to HATE them, don't we?

they ARE unamerican, by definition, si?

Viva los Hummers!

[BayCityProgressive]

2. of course you should hate them

they don't let EXXON bend them over and fuck them! Chavez is a dicktatur.

[Gabi Hayes]

3. HAHHHHH!!!!! "Dictator in a Polo Shirt"

http://www.bobs.com/Lyrics.cgi?Dictator_In_A_Polo_Shirt

[Kelly Rupert]

4. Does this mean we get a Chavez flamewar?

Those are totally awesome. I'll start:

1. Hugo Chavez is a dictatorial asshole who crushes hopes, dreams, economies, and kittens. He hates freedom and wouldn't mind shooting your mother in the face.

2. Hugo Chavez is a shining, selfless man who energized Latin America, stood up to Bush, and who will singlehandedly make Venezuela more equal, South America richer, socialism stronger, rainbows brighter, tits and dicks bigger, and puppies cuter.

[BayCityProgressive]

5. LOL!

that was hilarious! Thanks for the laugh, I needed it and I love sarcasm :)

[Gabi Hayes]

6. what're you, a wise guy? Off with your head!

[Lars39]

7. Oh, please tell me the Mad Hatter rolled that rotten blue egg down the hill?

[David__77]

8. I love it!

I'm a Chavez supporter. But I love the part about tits and dicks. If he could do that, the whole world would be in thrall!