PDVSA Offers Citgo Backing to Sweeten $7 Billion Bond SwapBy and
Company wants to exchange bonds due in 2017 for 2020 debt
PDVSA to offer new bonds at 1:1 ratio to old until Sept. 29
Venezuela’s state-owned oil company says it won’t pay bond investors any more than face value to exchange their debt for longer-maturity notes. Instead, it proposes offering half its U.S. refining arm as collateral.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Tesla Unveils ‘World’s Fastest Production Car’ and Electric Big Rig
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’
- Honda Recalls 800,000 Odyssey Minivans Linked to Injuries
- Getting a Dog May Save Your Life, Especially If You’re Single
- The Questionable Math Behind Manafort’s Extravagant Home Renovations