Venezuela PDVSA studies quick new bond tranche

CARACAS, July 6 (Reuters) - Venezuela's PDVSA is looking at "quickly" issuing another tranche of its 2011 bond after raising less than hoped for in the first sale of the paper in recent days, a source linked to the operation said on Monday.

The state oil company sold just $1.4 billion of the $3 billion planned issue, it said on Monday, after insisting on a high price for the paper.

PDVSA sold the paper at an average price of 180 percent, giving a total of $2.6 billion from the sale.

"The idea is to quickly convoke another sale, but at a base price around the average set in this operation," said the source who asked not to be named.

Traders consulted by Reuters said they expected PDVSA to auction the rest of the bond.

"They have to take advantage of the demand and the price parameter that is now clear to the market," said one Caracas-based trader.

PDVSA refused all offers under 175 for the bond it launched on Friday, saying it considered them to be "highly speculative."

Total demand for the bond was $7.9 billion with 19,000 offer made. PDVSA accepted 1,905 offers. (Reporting by Ana Isabel Martinez; Editing by Leslie Adler)