Venezuela Is $7 Billion Overdue, But Likely to Pay This Bond

Venezuela’s next bond payment coming due may be one that it actually makes. That would be an unusual occurrence for the beleaguered country, where the government and state oil company are behind on almost $7 billion owed to debt investors. What makes this one different, though, is that the $949 million payment coming due Oct. 27 is tied to a bond that’s backed by a majority stake in Citgo Holdings Inc. That means that if holders get stiffed, they can lay claim to the crown jewel of Venezuela’s U.S. assets More…