Petróleos de Venezuela SA missed $404
million in coupon payments on three of its bonds, highlighting the continued
struggles of the Venezuelan state oil company. The company, which is often
known as PdVSA, failed to make payments last week on bonds maturing in 2021,
2024 and 2035, according to J.P. Morgan Chase & Co. In a note to clients,
J.P. Morgan cited reports from PdVSA’s paying agent Citigroup and Clearstream,
a clearinghouse that handles the payments. PdVSA didn’t respond to a request
for comment. More…
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