Venezuelan state oil company PDVSA is in
talks with international banks over refinancing the company's debt, its
president said on Tuesday, as the OPEC member country grapples with major bond
payments amid an oil price rout. "If the conditions are favorable, of
course we're interested," Eulogio Del Pino said about potential
refinancing as he exited the country's National Assembly on Tuesday, adding the
company was talking to international banks. Del Pino had previously said PDVSA
was mulling a proposal to extend payment for bonds that mature in 2016 and 2017
until 2018 and 2019, when the company has a lighter load. Venezuela faces some
$10 billion in debt payments this year amid a tumble in oil prices and a brutal
recession, leading to speculation of default. More… 
Wednesday, February 24, 2016
Venezuela's PDVSA says in talks with banks over debt refinancing
Venezuelan state oil company PDVSA is in
talks with international banks over refinancing the company's debt, its
president said on Tuesday, as the OPEC member country grapples with major bond
payments amid an oil price rout. "If the conditions are favorable, of
course we're interested," Eulogio Del Pino said about potential
refinancing as he exited the country's National Assembly on Tuesday, adding the
company was talking to international banks. Del Pino had previously said PDVSA
was mulling a proposal to extend payment for bonds that mature in 2016 and 2017
until 2018 and 2019, when the company has a lighter load. Venezuela faces some
$10 billion in debt payments this year amid a tumble in oil prices and a brutal
recession, leading to speculation of default. More… 
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