Venezuela Bondholders Seek to Accelerate Payment on 2025 Notes
- Acceleration on $1.6 billion of notes foretells legal battle
- Some $60 billion of Venezuelan debt remains in default
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Investors who hold at least 25% of Venezuela’s benchmark dollar bonds due in 2025 are pushing to speed up payments on the notes after three years of sitting in default.
Deutsche Bank AG, the fiscal agent for the $1.6 billion of notes, received notice from the holders about the acceleration, declaring the debt “immediately due and payable,” according to a Feb. 25 letter seen by Bloomberg News.