March 13, 2019 |
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
Venezuela's state-owned oil company could borrow money to make a $70m coupon payment in April, sources say