A group of investors holding part of a secured US$2.5-billion bond issued by Venezuela’s PDVSA and maturing in 2020 are organizing ahead of an interest payment due to be made this Friday, according to sources who spoke to Bloomberg. The sources remained unnamed because of the private nature of the discussions. PDVSA is due to pay a total US$107 million to its bondholders this Friday. The group, which includes Ashmore Group as the largest bondholder of the 2020 notes, is preparing for a possible disappointment given Venezuela’s near-empty foreign currency coffers. According to the sources, the bondholders have hired law firm White & Case to advise them on the matter. What happens next would be interesting to watch because the bond is secured with a 50.1-percent interest in PDVSA’s U.S. business Citgo and if the company fails to make the interest payment, the bondholders will be free to enforce […]