Pdvsa negotiates debt swap in 2017 with Credit Suisse
Venezuela’s state-owned oil company Petróleos de Venezuela (Pdvsa) must repay USD 2.3 billion in November 2016
State-run oil company Petróleos de Venezuela (Pdvsa) is negotiating with Credit Suisse Bank a possible swap of debt bonds due in 2017.
Pdvsa is expected to repay USD 2.3 billion in November for “amortization of one of the bonds due in 2017, largely due at the end of this year,” thus representing a “complicated” scenario, according to Reuters.
Back in July, Petroleum and Mining Minister Eulogio del Pino told journalists about this bond swap as he announced that the oil company would engage in talks in this regard.
“USD 2 billion is to mature next year and it is very easy to swap such bonds (Pdvsa 2017),” Del Pino added, according to a press release.
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