Venezuela is paying its bondholders | Financial Times

by Faiz Ahmed last modified 2019-05-09T09:25:28-04:00
"On Tuesday, Venezuela's opposition-led National Assembly voted to keep afloat the country's last bond not in default and pay holders of PDVSA's bonds, due in 2020, the $71m in interest payments owed from late April. While the PDVSA's ad hoc board, which is now controlled by opposition leader Juan Guaidó's team, has not indicated how exactly it will finance the lump sum, the country is one step closer to staving off a major capital loss after attaining Congressional approval. ... A missed payment would have opened the doors for creditors to potentially seize Citgo, whose shares also serve as collateral for a $1.5bn loan that Russian oil company Rosneft extended to Venezuela."
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