Venezuelan PDVSA evaluates refinance its debt payments in the short term: daily

Friday November 6, 2015 9:33 PM EDT

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CARACAS (Reuters) - The president of the state oil company of Venezuela (PDVSA) plans to propose a refinance to holders of its bonds maturing in the short term, told a local newspaper.

PDVSA faces debt payments and interest due 5,200 million in 2016, a similar figure to which must end in the last quarter of the year for external debt service, which has already paid a part.

"A company that has met its commitments (...) is in a position to speak with key bondholders, whom we have identified, to propose a change in the maturity profile in the short term," Eulogio del Pino, President said PDVSA said in an interview published Friday in the newspaper El Mundo.

The head of the state oil company said evaluating extend payment for bonds maturing in 2016 and 2017 to 2018 and 2019 when they have less commitments, the newspaper said.

Pine, however, ruled out in the interview that the payment of principal and interest on short-term debt of the company depends on some negotiation and said that design with the Venezuelan government's strategy to meet its future commitments of foreign debt .

The slump in international oil prices has hit the finances of the state-owned PDVSA and the government, which relies on revenue from the sale of oil, but so far this year both have fulfilled their obligations.

Venezuela faces the expiration of a quarter of its foreign debt between 2015 and 2017 and, despite fears on Wall Street that could fall into default of payment, President Nicolas Maduro has promised to fulfill all its commitments.

PDVSA also plans to request more funding partners with oil projects being conducted under the scheme of joint ventures, given that it is very costly to the state go to the international market in the current context.

"All of our partners involved in joint ventures must have their financing, not only the rate that applies to them, but also of belonging to PDVSA (60%)," Del Pino, according to the newspaper .

(Reporting by Corina Pons, edited by Gabriela Donoso)

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