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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