Venezuela’s state-run oil company is preparing to make a
$949 million bond payment that’s due Oct. 29, according to a person with direct
knowledge of the matter. Petroleos de Venezuela SA’s plan to make the coupon
and partial principal repayment on the 2020 notes would mark a rare exception for
Nicolas Maduro’s government, which has racked up nearly $7 billion in defaulted
debt to investors. This bond is backed by a majority stake in Citgo Holding
Inc., meaning a non-payment would allow bondholders to lay claim to the crown
jewel of Venezuela’s U.S. assets. More… 
Wednesday, October 24, 2018
Venezuela Is Said to Prepare PDVSA Bond Payment Amid Defaults
Venezuela’s state-run oil company is preparing to make a
$949 million bond payment that’s due Oct. 29, according to a person with direct
knowledge of the matter. Petroleos de Venezuela SA’s plan to make the coupon
and partial principal repayment on the 2020 notes would mark a rare exception for
Nicolas Maduro’s government, which has racked up nearly $7 billion in defaulted
debt to investors. This bond is backed by a majority stake in Citgo Holding
Inc., meaning a non-payment would allow bondholders to lay claim to the crown
jewel of Venezuela’s U.S. assets. More… 
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