Venezuelan Bonds Plunge After Maduro Calls for Debt Restructuring

Venezuela’s admission its debt load has become unsustainable sent Petroleos de Venezuela SA’s bonds slumping toward 20 cents on the dollar in London trading. Obligations of the state-owned company suffered a sharper decline than notes issued by the government after President Nicolas Maduro said he will seek to restructure the nation’s global debt including bonds of PDVSA.

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