CARACAS (Dow Jones)--Venezuelan President Hugo Chavez approved 15 days ago a bond sale by Corporacion Venezolana de Guayana, or CVG, the state commodities holding group, Public Credit Director Ana Barrios said Wednesday.
CVG, which in recent months has been plagued by labor unrest and is facing a cash crunch, is studying the details of the bond issue, Barrios added without giving further details.
The government will sell three billion bolivars ($1.4 billion) in the local market before the end of the year, Barrios said.

-By Darcy Crowe, Dow Jones Newswires; (58) 414 249 6821; darcy.crowe@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/nae/al?rnd=VIofgaKvteUwiqc4ESSVHw%3D%3D. You can use this link on the day this article is published and the following day.