PDVSA Gets 18% in Swap

PDVSA Gets 18% in Swap

Venezuela Bonds

Bondholders agreed to swap $549.9m (18.3%) of PDVSA’s 2011 bonds in an exchange offer that closed Friday, the state-owned Venezuelan oil company says. In return for the zero-coupon 2011 bonds, PDVSA will issue $618.7m in 8.0% of 2013s. It had offered

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