Guaido Pays Maduro's Debt to Keep Citgo Venezuelan

PDVSA 2020 bondholders received coupon payment for debt
Marks ‘first financial transaction of the Guaido government’

A pro-government supporter holds a banner displaying the logo of Citgo Petroleum, the U.S. refiner controlled by Petroleos de Venezuela SA (PDVSA), during a rally in Caracas, Venezuela, on Thursday, Jan. 31, 2019. The U.S. and more than a dozen other nations have recognized National Assembly President Juan Guaido as Venezuela's legitimate leader and are pressuring President Nicolas Maduro to step down, accusing him of rigging his re-election last year and leading the once-rich country into ruinous poverty.Photographer: Marco Bello/Bloomberg

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By Ben Bartenstein and Fabiola Zerpa

May 16, 2019 at 2:50 PM UTC

This article is for subscribers only.

Juan Guaido just paid debt incurred by political rival Nicolas Maduro, the latest milestone in the battle between Venezuela’s dueling leaders.

Holders of the bonds due in 2020 from state-run oil company Petroleos de Venezuela SA received the interest payment Wednesday, according to two investors who own the notes and asked not to be identified. Alejandro Grisanti, a member of an ad hoc PDVSA board set up by Guaido, confirmed the payment and said the money came from accounts receivable at the oil company. It marks the “first financial transaction of the Guaido government,” he added.