PDVSA set to make payment on secured bond

Venezuelan government-owned oil giant Petróleos de Venezuela (PDVSA) is likely to make a $71m interest payment on its 2020 notes, the only external bond on which the country has not yet defaulted.

  • By Oliver West
  • 09 May 2019

PDVSA’s October 2020s, which have a coupon of 8.5%, are secured by shares in the company’s US refinery Citgo. President Nicolás Maduro’s government had continued to pay the coupon despite stopping payments on other bonds back in 2017 in order to prevent creditors seizing Citgo. 

However, the US and ...

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