Venezuela Plans to Sell $300 Million of Bonds in Private Sale

Caracas, May 14 (<a href=quote.bloomberg.com>Bloomberg) -- Venezuela plans to sell $300 million of bonds within days in a private transaction, the country's first foreign bond sale in two years, a top finance ministry official said.

The government also plans to sell $400 million of bonds during the third quarter and $900 million of bonds this year through private sales, said Alejandro Dopazo, director of public credit. Dopazo would not say who plans to buy the debt or the terms of the bonds.

``We're basically concentrating on private transactions since market access is not that easy,'' Dopazo said in a telephone interview.

Venezuela may not swap some of its foreign bonds this year, Dopazo said. The finance ministry said in March that it planned to swap during the second quarter some of its foreign bonds maturing this year and next. The government may not sell foreign bonds on the market this year, Dopazo added. Last Updated: May 14, 2003 11:55 EDT