A Major Asset Manager Put a Price on Goldman's Infamous ‘Hunger Bonds’
- ‘Hunger bonds’ from Venezuela’s PDVSA marked at 33 cents
- Valuation level suggests a small profit for SEI’s fund
Demonstrators hold signs during a protest outside of the Goldman Sachs Group Inc. headquarters in New York, U.S., on Tuesday, May 30, 2017. Goldman faces a probe by Venezuela's opposition leaders after buying bonds issued in 2014 by the state oil company, a purchase some lawmakers said bolsters President Nicolas Maduro as he grapples with accusations of human-rights violations.
Photographer: Alexander F. Yuan/BloombergThis article is for subscribers only.
Goldman Sachs Group Inc.’s investment arm has $2.8 billion of bonds from Venezuela’s state oil company that don’t trade. Brokers have prodded investors on what they’d pay if the debt goes on sale. But so far there’s no clarity on price.
Until now.