Related Articles
Forward article link
Share PDF with colleagues

Venezuelan crunch time

Venezuela faces steep bond payments before the end of the year. It is looking to Russia to help keep it from default

27 October will be a tense day for Venezuela's cash-strapped state oil company PdV and its bondholders. The company owes $0.84bn in principal payments on its PDVSA 2020 bond on the day. Unlike some other PdV debt, the 2020 bond does not have a provision for a grace period, so if PdV can't come up with the cash on the day, or there is a hiccup making the transfer to its payment agent Delaware Trust Company, PdV would be in default and one of the world's top oil producers would be plunged into a highly complex legal battle with its bondholders that would likely seize up its international business. The 27 October transaction is one of a string of payments PdV will have to make to bondholders to



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Angola brings new deepwater project online
10 May 2021
Production at Zinia Phase 2 comes after years of upstream stagnation
Iraq renews gas drive
8 May 2021
Baghdad turns again to China to develop its second largest gasfield
European power trading innovation: Old dogs learn new tricks
7 May 2021
The founders of Energy Quantified by Montel have built analysis models before. But this time they have torn up the rulebook
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video