Pdvsa must pay interests for USD 313.7 million
According to experts, the Venezuelan state-run oil company has paid only the coupon for bond 2037, matured last October, in addition to the principal amount for bond 2020 and the repayment of bond 2017; the latter two lacked a 30-day grace period, as opposed to the other ones
Friday, November 10, is the deadline for the grace period of the interests of bonds Pdvsa 2027, slated to be paid on October 12.
Experts reported that state-run oil company Petróleos de Venezuela (Pdvsa) has paid only the coupon for bond 2037, matured last October, besides the principal amount for bond 2020 and the repayment of bond 2017; the latter two lacked a 30-day grace period, as opposed to the other ones.
Therefore, Pdvsa is lagged behind its commitments for USD 313.7 million. The expiry date for the payment of additional USD 539 million is coming soon.
Sovereign bonds face a similar situation. The Republic has accrued interests in arrears for the bonds 2019, 2024, 2025 and 2026, totaling USD 437.1 million.
All this occurs in the middle of the orders given by Venezuelan President Nicolás Maduro to refinance the foreign debt. He entrusted a commission headed by Executive Vice-President Tareck El Aissami with the analysis of the topic.
link
http://www.eluniversal.com/noticias/daily-news/pdvsa-must-pay-interests-for-usd-3137-million_676938
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