Venezuela

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Venezuela Creditor Group Taps Millstein as Financial Adviser

With Venezuela and its state-owned companies behind on $3.4 billion of bond payments, a group of creditors has joined together to consider their next steps and selected Millstein & Co. as financial adviser. The group will seek to evaluate the financi ...

Daily Headline - global.abi.org - 04/22/2018 - 23:18 - 0 comments

Bondholders Seek Smart Money Edge in Venezuela’s Debt

If there is any smart money in Venezuela these days, it is probably in a $2.5bn, 8.5 per cent bond issued by PDVSA, the state oil company, due on October 27, 2020. Despite being declared in default, it trades around 85 cents on the dollar, suggesting inv ...

Daily Headline - global.abi.org - 04/11/2018 - 23:41 - 0 comments

Venezuela Debt Crisis Nears New Low as Riskiest Bond Matures

The Venezuelan debt crisis could be on the verge of a new milestone as a $650 million bond matures Tuesday with little hope it’ll get paid, Bloomberg News reported. The notes from the state-run electric utility were always considered among the country’s ...

Daily Headline - global.abi.org - 04/09/2018 - 22:15 - 0 comments

Venezuelan Candidate Would Seek Debt Restructuring, Adviser Says

Venezuela needs urgent debt relief and would look to give bondholders small payments in the short-term while pushing back maturities in order to allow the country to return to growth, according to the economic adviser of opposition candidate Henri Falcon ...

Daily Headline - global.abi.org - 03/25/2018 - 23:18 - 0 comments

Venezuela Says U.S. Sanctions Hampering Debt Renegotiation

Venezuela's foreign minister said on Tuesday that U.S. sanctions against the ailing oil nation are making foreign debt renegotiation more difficult and causing "panic" at global banks, the International New York Times reported on a Reu ...

Daily Headline - global.abi.org - 02/28/2018 - 00:27 - 0 comments

Venezuela Is Late on $1.7 Billion and Bond Traders Are Stuck

It’s been more than three months since the first of more than a dozen Venezuelan bonds was declared in default, and the arrears keep stacking up, Bloomberg News reported. Wall Street investors reluctant to give up hope they’ll eventually be paid are in l ...

Daily Headline - global.abi.org - 02/15/2018 - 21:41 - 0 comments

Venezuelan Oil Company PDVSA's Bonds Hit by EMTA Market Move

Emerging markets trade group EMTA has recommended that bonds issued by Venezuela’s state-owned oil firm PDVSA should be traded “flat”, or without accrued interest, the way bonds in default are typically traded. The move follows a similar advisory from EM ...

Daily Headline - global.abi.org - 02/12/2018 - 21:50 - 0 comments

Venezuela’s Bond Surge Shows There’s Still Faith in the World's Biggest Loser

Venezuelan debt is kicking off 2018 on a tear. The nation’s bonds, which led global losses in 2017 after the government declared it needed to restructure its debt, have returned a world-leading 12 percent, Bloomberg News reported. That’s four times what ...

Daily Headline - global.abi.org - 01/17/2018 - 23:52 - 0 comments

Venezuelan Bonds Bake In Permanent Default

Bonds investors are finally acting like they’ve lost hope that Venezuela will make any future debt payments, The Wall Street Journal reported. Traders debated for weeks about whether to continue pricing the oil-rich country’s sovereign debt with the ...

Daily Headline - global.abi.org - 01/10/2018 - 23:10 - 0 comments

Fund Managers Set to Mark Down Venezuela Bond Holdings

Fund managers holding Venezuela government bonds face a day of reckoning after months of waiting for more than half a billion dollars in late interest payments, Bloomberg News reported. Since November, investors following guidelines established by the Em ...

Daily Headline - global.abi.org - 01/10/2018 - 00:28 - 0 comments

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