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Sovereign Debt

D’Empaire has represented the underwriters in most of the sovereign debt offerings and liability management programs of the Bolivarian Republic of Venezuela.

Our representations include:

  • Citigroup Global Markets Inc. as dealer manager in connection with Petróleos de Venezuela S.A.’s US$ 3 billion aggregate principal amount of Senior Notes Due 2017
  • Citigroup Global Markets Inc. as dealer manager in connection with Petróleos de Venezuela S.A.’s exchange of its Unsecured Notes due 2011 for Senior Notes due 2013
  •  Credit Suisse Securities and Deutsche Bank Securities Inc. as dealer managers in connection with the Bolivarian Republic of Venezuela’s US$ 3 billion aggregate principal amount of 12.75% amortizing bonds due 2022
  • Citi and Deutsche Bank Securities Inc. as dealer managers in the placement of the Bolivarian Republic of Venezuela's US$ 1.5 billion aggregate principal amount of 7.75% bonds due 2019 and US$ 1.5 billion aggregate principal amount of 8.25% bonds due 2024
  • Deutsche Bank Securities Inc. and Barclays Bank PLC as dealer managers in the placement of the Bolivarian Republic of Venezuel’s US$ 1.5 billion aggregate principal amount of 9% bonds due 2023 and US$ 1.5 billion aggregate principal amount of 9.25% bonds due 2028
  • ABN AMRO and Econoinvest Casa de Bolsa in the placement of the US$3 billion 5.25% Notes due 2017, US$3 billion 5.375% Notes due 2027 and US$1.5 billion 5.50% Notes due 2037 Notes issued by Petróleos de Venezuela, S.A.
  • Barclays Capital as dealer manager in connection the issuance by the Bolivarian Republic of Venezuela of US$825,179,000 in aggregate principal of its 7.00% Bonds due 2038 on November 15, 2007, and the Republic’s VEBONO052013 due 2013 and VEBONO052014 due 2014
  • Barclays Capital as dealer manager in connection with the reopening of the Bolivarian Republic of Venezuela’s 7.00% Bonds due 2038
  • ABN AMRO, Calyon Securities and Deutsche Bank in connection with the offering of US$1.5 billion Bonds due 2016 and US$1.5 billion Bonds due 2020 issued by the Bolivarian Republic of Venezuela
  • Deutsche Bank and UBS Securities in connection with the offering of EUR1 billion 7% Global Bonds due 2015 issued by the Bolivarian Republic of Venezuela
  • CSFB International in the exchange of the Bolivarian Republic of Venezuela JPY17.9 billion Floating Rate Notes due 2008 for the JPY17.9 billion Floating Rate Notes due 2011
  • ABN AMRO and Dresdner Bank in connection with the offering of US$ 500 million 9.375% Global Bonds due 2034 issued by the Bolivarian Republic of Venezuela
  • Merrill Lynch and Barclays Capital in connection with the exchange of Brady Bonds for dollar-denominated 8.5% Global Bonds due 2014 to be issued by the Bolivarian Republiccof Venezuela, and with the cash offering of such global bonds. This transaction was considered by Latin Finance the deal of the year for liability management
  • Dresdner Bank and UBS Securities in connection with the offering of US$1 billion Floating Rate Notes due 2011 issued by the Bolivarian Republic of Venezuela
  • J.P. Morgan Securities and Merrill Lynch in connection with the offering of US$3 billion units of investment consisting of Dollar Notes due September 30, 2004 and Venezuelan Notes (Vebonos) due 2008 and 2009 issued by the Bolivarian Republic of Venezuela and with the repurchase of Venezuelan Notes (DPNs)
  • J.P. Morgan Securities in connection with the offering of US$1 billion 9.375% Global Bonds due 2034 issued by the Bolivarian Republic of Venezuela
  • CSFB International and Deutsche Bank in connection with the offering of US$1 billion 7% Notes due 2018 issued by the Bolivarian Republic of Venezuela
  • ABN AMRO in connection with the offering of US$470 million 10.75% Notes due 2013 issued by the Bolivarian Republic of Venezuela
  • ABN AMRO and Citigroup Global Markets Inc in connection with the offering of US$700 million 10.75% Notes due 2013 issued by the Bolivarian Republic of Venezuela