PDVSA seeks syndicated loan

PDVSA seeks syndicated loan

Loans Debt Corporate & Sovereign Strategy Bonds Energy Economy & Policy Venezuela US

Venezuela's PDVSA is in talks with banks to get a syndicated loan to make interest payments on $1.6bn in bonds as production at the state-owned oil company grinds to a halt, LatinFinance has heard. "I heard they were trying to work out some syndicated facility that could be used to pay the 2020 bonds that have Citgo as collateral," said a bond buyer in New York. PDVSA has to make a $70m coupon payment in April, but it might struggle to find lenders unless it comes up with "very solid collaterals

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