Personal Finance / 2 posts found

Venezuela’s 30 Minutes of Debt Talks Leave Bondholders Guessing

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Venezuela’s much-vaunted restructuring meeting with bondholders concluded after about 30 minutes with little insight for investors who made the trek to Caracas. Vice President Tareck El Aissami, the only government official to speak, devoted most of his remarks to railing against Donald Trump and global financiers who he said have conspired to keep the country from making debt payments on time. He pledged Venezuela would continue to honor its obligations while working to form committees with bondholders to figure out the next steps. He offered no specific proposals for restructuring, according to people who attended the meeting, which wasn’t open […]

Venezuela Will Seek to Restructure Its Debt

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President Nicolas Maduro said Venezuela will seek to restructure its global debt after the state-owned oil company makes one last payment, blaming U.S. financial sanctions for making it impossible to find new financing. The government will transfer funds for a $1.1 billion principal payment on Petroleos de Venezuela bonds that came due Thursday, Maduro said from Caracas. From there on out, the nation will renegotiate its debt with banks and investors, he said in a national address. Venezuelan bonds trade at an average price of 36 cents on the dollar, reflecting widespread investor concern that the nation was headed for default. […]
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