PDVSA says it paid principal due on amortizing 2020 bonds Doesn’t mention interest payment, which has grace period Venezuela’s state-run oil company said it transferred the funds to make an $842 million principal payment on its bonds due Friday, overcoming the first of many hurdles the country will face in coming days as it seeks to avoid sinking into default. The announcement spread a sense of relief to investors in the bond market, who drove up Venezuelan asset prices across the board Friday. A second big payment is due Nov. 2, and the country’s decision to disburse the cash for today’s payment indicates that it likely intends to meet that one too. But plenty of obstacles remain, including the immediate challenge of ensuring that the cash makes it all the way into the accounts of creditors. In recent weeks, Venezuelan officials told investors that less-critical interest payments have gotten […]