Venezuela Bondholder Group Sends Envoy to Caracas for Debt Talks
- Representatives held meeting with government’s legal advisers
- Any deal faces legal hurdles absent Venezuela regime change
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Creditors holding defaulted debt issued by Venezuela and its state-run oil company sent an envoy to Caracas for talks with the government’s legal advisers, according to two people familiar with the matter.
A small U.S. delegation from a group of bondholders advised by Cleary Gottlieb Steen & Hamilton and Guggenheim Securities met with lawyers from Dentons, the firm representing Venezuela, and local creditors to discuss options for getting paid back after the nation defaulted on some $9 billion in debt payments, said the people, who asked not to be identified because the information was private. The group includes large investors such as T. Rowe Price Group Inc. and Fidelity Investments.