South America

Results for South America

Venezuela’s Creditors Begin Organizing Among Themselves

As Venezuela struggles to make bond payments on time, about a dozen institutions holding the country’s debt are in the early stages of organizing themselves and meeting with attorneys, according to people with knowledge of the matter. The group -- which ...

Daily Headline - global.abi.org - 11/21/2017 - 22:56 - 0 comments

As Many Venezuela Bondholders Stampede, Some Joust For Advantage

Venezuela’s efforts to restructure its debt may have triggered an initial stampede for the exits, but some investment funds are maintaining their portfolios or even beefing them up, betting that other investors’ distress could spell opportunity, Reuters ...

Daily Headline - global.abi.org - 11/20/2017 - 23:45 - 0 comments

Venezuela: Distressed Debtors

Petróleos de Venezuela is the oily lifeblood of the country which owns it, so default should spell the beginning of the end for creditors, the Financial Times reported in a commentary. PDVSA’s exports are the only reason the government has been able ...

Daily Headline - global.abi.org - 11/19/2017 - 23:32 - 0 comments

No Money? No Problem! Venezuelan Bonds Rally in Act of Faith

Despite reassurances from the Venezuelan government and state-run oil company that checks for past-due bond payments are in the mail, few investors have actually seen the money yet, Bloomberg News reported. No matter. Bonds are rising, paring some of the ...

Daily Headline - global.abi.org - 11/16/2017 - 23:46 - 0 comments

Russia, Venezuela Sign Deal on $3.15 Billion Restructuring

Russia signed an agreement to restructure $3.15 billion of debt owed by Venezuela, throwing a lifeline to a crisis-wracked ally that’s struggling to repay creditors, Bloomberg News reported. The pact gives Venezuela some much-needed breathing room as it ...

Daily Headline - global.abi.org - 11/15/2017 - 23:38 - 0 comments

Venezuela Default a Sideshow as Bond Investors Hold Out Hope

Venezuela and its state oil company are now officially in default. It changes nothing for bondholders, Bloomberg News reported. The declarations in the past 24 hours by S&P Global Ratings, Moody’s Investors Service and Fitch Ratings only confirmed wh ...

Daily Headline - global.abi.org - 11/14/2017 - 22:53 - 0 comments

Brazil's Oi Focused on Creditors Meeting, Not on New Investors

7 even if creditors and shareholders had not reached an agreement, Reuters reported. In the results, ...

Daily Headline - global.abi.org - 11/13/2017 - 23:17 - 0 comments

Venezuela Declared in Default by S&P After Missing Bond Payments

Venezuela, one of the world’s riskiest credits, was declared in default by S&P Global Ratings after missing two interest payments on its debt, Bloomberg News reported. The nation, home to the world’s largest oil reserves, owed investors about $200 mi ...

Daily Headline - global.abi.org - 11/13/2017 - 23:19 - 0 comments

Venezuelan State Electric Company's Trustee Declares Default

Venezuela’s state electricity company was declared in default by the trustee for its bonds after it failed to make a $27.6 million interest payment, Bloomberg News reported. The electric utility, however, said that the cash was sent Nov. 8 and was being ...

Daily Headline - global.abi.org - 11/12/2017 - 22:46 - 0 comments

Venezuelan Oil Output Heads to 29-Year Low

In a related story, Bloomberg News reported that Venezuela is set to pump the least oil in almost three decades, just when it needs petrodollars the most. Output is expected to slump to 1.84 million barrels a day next year, the lowest compared with offic ...

Daily Headline - global.abi.org - 11/12/2017 - 23:01 - 0 comments

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