PDVSA
Description
Global investment bank Jefferies is marketing trade receivable promissory notes from PDVSA, sending out price indications of $35 to $50 on three series of 6.5% notes due 2019, with sizes of US$120 million, US$200 million and US$500 million. Reuters reported in May that PDVSA was looking to sell promissory notes to cover unpaid bills from its suppliers, and had hired Miami-based CP Capital to structure the notes.