Davis Polk, D'Empaire Reyna and Hogan Lovells in PDVSA issuance

May 22, 2012 11:41 AM

VENEZUELA - Hogan Lovells offices in the US and Venezuela have helped PDVSA in its first bond issuance of 2012, through which the Venezuelan state-owned oil company raised US$3 billion.

The issuance took place on Thursday, with deal managers Citigroup Global Markets and Russia’s Evrofinance Mosnarbank taking Venezuelan counsel from D'Empaire Reyna Abogados and turning to Davis Polk & Wardwell LLP in the US.
 
All three firms were involved in the state-owned company’s previous US$2.39 billion offering in November, which was the third since Venezuela’s new securities law was enacted.
 
It is thought the proceeds will be used by the country’s Central Bank. The latest issuance comes just five months before Venezuela’s presidential elections, and will likely pave the way for an increase in public spending ahead of the vote.
 
Counsel to PDVSA

US
 
Hogan Lovells LLP
 
Partners José Valdivia and Sina Hekmat, and associates Oscar Stephens, David Tyler, Evan Koster, Christy Gressman and Christiana Stevenson
 
Venezuela
 
Hogan Lovells (Venezuela)
 
Partners Bruno Ciuffetelli and Gonzalo Rodríguez, and associate Mariana Boza
 
Counsel to Citigroup Global Markets and Evrofinance Mosnarbank
 
US
 
Davis Polk & Wardwell LLP
 
Partners Maurice Blanco and Sam Dimon, associates Katia Brener, Jeanine McGuinness and Eric Song and foreign associate Eduardo Postlethwaite
 
Venezuela
 
D'Empaire Reyna Abogados
 
Partner Carlos Omaña and associate Amanda Arcaya

(Source: LatinLawyer)

Note from the editor: PdVSA is currently leasing the Refineria Isla N.V. on Curacao and is owner of Bopec Petroleum Corporation on Bonaire.

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