Venezuelan investors are getting ready
for a wild ride over the next five weeks as the government stares down $3.5
billion in debt payments. While all the country’s due dates in the past year
have elicited serious hand-wringing, the next few are on a whole new level.
That’s because unlike recent transactions in which a 30-day grace period allowed
Venezuela to avoid default, the upcoming deadlines have no leniency. Further
complicating matters, some of the bonds are backed by a majority stake in Citgo
Holding Inc., potentially putting one of the biggest U.S. refiners in play. More…
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