Venezuela and Argentina will offer a dollar-denominated bond to Venezuelan investors next month, Venezuela's finance minister said.
The bond issue will be offered in the first half of November for at least US$1 billion (euro800 million), Finance Minister Nelson Merentes told lawmakers Tuesday.
"We've agreed on the technical details with Argentina," he said.
The bond issue has been discussed for months. Venezuelan investors, who have difficulties obtaining foreign currency due to strict state controls, buy dollar-denominated bonds with local currency and then sell them abroad for dollars.
The value of a dollar on Venezuela's black market has risen in recent weeks as investors anticipated the bi-national bond, as well as a US$3.5 billion (euro2.8 billion) bond that state oil company Petroleos de Venezuela SA has said it would sell this year.