Rothschild Said to Approach PDVSA Creditors to Form Group
- Advisory firm querying investors about interest in bond swap
- Rothschild believes PDVSA management open to transaction
This article is for subscribers only.
Rothschild & Co. is approaching Petroleos de Venezuela SA bondholders in a bid to form a creditor group and draft a proposal for a voluntary swap of about $8 billion of the oil company’s short-term debt for notes with later maturities, according to people with knowledge of the matter.
The advisory firm has been in contact with some investors directly and held a group conference call Monday, said the people, who asked not to be identified because the talks are private.