- Provisions for the issuance and placement of bonds by international financial institutions
 

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Public Offer of Bonds by International Financial Institutions

Resolution No. 38-2006 of National Securities Commission

Official Gazette No. 38.428, May 3, 2006

 

 

Provisions for the issuance and placement of bonds by international financial institutions

 

The National Securities Commission (Comisión Nacional de Valores-CNV) has enacted certain provisions referred to the public offering and placement of bonds, commercial paper and participations by international financial institutions created by international public law treaties of which Venezuela is a signatory.  The term under which a commercial paper shall be outstanding is to be from 15 to 360 days, the one related to bonds shall extend for more than 360 days, and, in the case of participations, the same will be issued in attention to the characteristics of the underlying asset.  This resolution was especially issued in relation to the bond issue floated by the Andean Development Corporation (Corporación Andina de Fomento-CAF), which is the first placement in Venezuelan currency in a number of years. 

 

Contributor: John R. Pate, De Sola Pate & Brown, Caracas, Venezuela.  The full text of this resolution may be obtained through: jpate@desolapate.com.

 

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