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Venezuela bondholders inch toward showdown

Monday, April 17, 2017

Venezuela’s State-Owned Oil Company Avoids Default For Now

The trouble nation’s state-owned oil company, Petróleos de Venezuela, S.A. (PdVSA), today deposited enough funds to pay the $2.1 billion it owes today, according to correspondence reviewed by The Wall Street Journal. That means that those investors that made the risky bet could see huge profits on bonds purchased at their February lows of 36 cents on the dollar. More…

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