Venezuelan Bondholders Are Preparing for a Fight if the Country Defaults on its $60 Billion Debt

Holders of Venezuelan bonds are meeting with each other and considering forming committees, advisers and fund managers told Reuters, as questions mount about the feasibility of President Nicolas Maduro’s proposal to restructure $60 billion of debt. Maduro has said the country will keep servicing its obligations for now. But bondholders ranging from longstanding investment funds to hedge funds and emerging markets funds in the United States and elsewhere are starting to lay the foundations for a potentially bitter and messy battle over a possible default down the road. More…