PDVSA ad-hoc board confirms bond payment

PDVSA ad-hoc board confirms bond payment

Bonds Debt Capital Markets Corporate & Sovereign Strategy Economy & Policy Fixed Income Asset Management Energy Gas Politics Venezuela US

PDVSA's ad-hoc board, named by the opposition leader Juan Guaidó, said the state-owned oil company will make a $71.6m interest payment on its 2020 bonds. The National Assembly, led by Guaidó, voted to make the payment on May 7, the board said in a press release.  PDVSA will get the money to pay the interest from uncollected revenues abroad, following "certain procedures" in regards to US sanctions, the board said. The market has expected PDVSA to make the payment, rather than risk losing control

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