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Tuesday, June 6, 2017

Venezuela Tries to Resell $5 Billion Bond at Deep Discount

Venezuela is attempting to resell at a deep discount $5 billon of bonds it originally issued in December through a Chinese brokerage as it struggles to squeeze through a tightening cash crunch, according to investors who were offered the bonds. The move is the country’s latest extraordinary move to raise funds after being shut out of the international debt market in recent years as its oil-rich socialist economy crumbles. But even bond funds that specialize in distressed debt are hesitating to buy in because of... More…

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