May 13, 2019 |
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
State-owned oil company will make the May 27 deadline, rather than risk losing control of Citgo