Ramírez NY plan gives Sidetur holders hope

By Oliver West
28 Aug 2014

The Venezuelan vice president for the economy, oil and mines minister, and president of oil company PDVSA is planning to meet investors in New York in September in a trip that some hope will shed some light on the next step for steel company Sidetur. The firm defaulted on its bonds a year ago.

Rafael Ramírez has cancelled roadshows to New York twice in the last week, but with Venezuela and state-owned PDVSA needing $4.5bn to pay bond maturities in October alone (not including interest) analysts expect the “super minister”, as some refer to him, to finally make the trip north next ...

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