On Monday, several analysts appeared on Venezuelan TV discussing their view on the opportunities that the company’s bonds represented for investors.
PDVA’s statement warns that the company might extend the deadline again at its discretionPDVSA is one of the largest exporters of crude oil and owner of the largest reserves in the world.
Before the announcement, PDVSA said it would honor its commitments regardless of the results of the swap.
The Nicolás Maduro administration seems ready to push it to the latest date possible to avoid paying investors.
PDVSA bonds were “the most profitable asset on all global markets in the last two years,” economist Ramiro Molina claimed“As of the deadline – 5pm New York time on October 17 – “a substantially lower percentage than 50% of the total capital amount of the existing bonds had been offered,” the company admitted in a statement.
Fuente original: PDVSA’s financial problems: Venezuela’s state-owned oil company on the brink of default | In English | EL PAÍS
