Venezuela’s PDVSA Makes $539M Interest Payments On Bonds

16 Dec 2017   Venezuela

Venezuela’s cash-strapped state oil firm PDVSA said that it had initiated bank transfers on Thursday to pay US$539 million in interest on four separate bonds, just hours before grace periods on those payments expire between Friday and Sunday. In a series of tweets, the oil firm that is still trying to service its debts and invoking every possible 30-day grace period to defer the final deadlines as much as possible said that it started the process of paying the interest on its bonds maturing in 2024, 2026, 2021, and 2035. “PDVSA calls on all bondholders and investors to trust the logistical, productive and financial capacity of the company, which has honored all its commitments,” the state oil company said . And then, it also tweeted : “PDVSA confirms the solvency and soundness of its oil industry, in the midst of a struggle against the illegal imperial sanctions.” Venezuela’s President […]

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