Ridery Becomes First Startup to Issue Debt in Venezuela

Venezuelan ride sharing app Ridery became the first startup to issue debt in the local market, after the securities regulator authorized the company to sell commercial papers for the equivalent of $1 million.

• The issuance will be denominated in local currency
• The securities were rated A1 by two Venezuelan rating agencies, according to Ramiro Molina, CFO at Ridery
  • The four-year old company is also the youngest to tap the local market, Molina added

To contact the reporter on this story:
Nicolle Yapur in Bogota Office at nyapur1@bloomberg.net

To contact the editors responsible for this story:
Julia Leite at jleite3@bloomberg.net

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