Venezuela state oil company Petróleos de
Venezuela, S.A. (PDVSA) today announced that the offers to exchange its 5.250%
Senior Notes due 2017 and 8.50% Senior Notes due 2017 for new 8.50% Senior
Secured Notes due 2020 secured by 50.1% of Citgo has closed. As total
consideration to be paid for the validly tendered Existing Notes pursuant to
the Exchange Offers, PDVSA will issue an aggregate principal amount of
approximately U.S.$3,367 million of New Notes on the Settlement Date, subject
to rounding adjustments as set forth in the Offering Circular and as adjusted
for any delays in processing tender instructions. Investors tendered approximately U.S.$2,799
million of the $7.1 billion of the 2017 bonds, whiich is approximately
approximately 39.43% of the aggregate principal amount outstanding. More… 
Tuesday, October 25, 2016
Offering 50% of Citgo, Venezuela's PDVSA Gets $2.8 Billion of $7.1 Billion in Debt-Holders to Extend
Venezuela state oil company Petróleos de
Venezuela, S.A. (PDVSA) today announced that the offers to exchange its 5.250%
Senior Notes due 2017 and 8.50% Senior Notes due 2017 for new 8.50% Senior
Secured Notes due 2020 secured by 50.1% of Citgo has closed. As total
consideration to be paid for the validly tendered Existing Notes pursuant to
the Exchange Offers, PDVSA will issue an aggregate principal amount of
approximately U.S.$3,367 million of New Notes on the Settlement Date, subject
to rounding adjustments as set forth in the Offering Circular and as adjusted
for any delays in processing tender instructions. Investors tendered approximately U.S.$2,799
million of the $7.1 billion of the 2017 bonds, whiich is approximately
approximately 39.43% of the aggregate principal amount outstanding. More… 
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