Weekly Report - 27 September 2007 (INNS 1741-7422)

ARGENTINA-VENEZUELA | Bono del Sur. Venezuela and Argentina launched a US$1.2bn Bono del Sur bond, the third dollar-denominated bond issue in less than a year, on 24 September. The bond was due to be released in mid August but it was suspended, ostensibly to protect investors from global market volatility. The release had also coincided with the emergence of a corruption scandal which complicated relations between the two countries: a Venezuelan businessman was stopped by Argentine customs with a suitcase containing some US$800,000 of undeclared cash [WR-07-32].

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