PDVSA extends for a third time the deadline for the 2017 bond swap to Oct. 21 as it seeks at least 50% participation. A conf. call did little to reduce investors concerns; PDVSA says earlier comments on payments did not refer to the 2017 bonds. PDVSA is not considering increasing the swap ratio and said default is not desired but "everything is on the table".

Heute, 03:32Betreff: AW: Venezuela#9663

wally 

Registriert seit

11.09.2009

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 Zitat von Aldy 

Die nochmalige Verlängerung hatte ich nicht auf der Rechnung.
Den massiven Absturz demzufolge auch nicht. 

Plan B heißt nun, halten und ggf. noch weiter günstig zukaufen.

Ich kann mir nicht vorstellen, daß die wirklich einen default riskieren. Cui bono?

vielleicht sollte man im hinterkopf behalten dass "Plan C" moeglich ist.

PDVSA extends for a third time the deadline for the 2017 bond swap to Oct. 21 as it seeks at least 50% participation. A conf. call did little to reduce investors concerns; PDVSA says earlier comments on payments did not refer to the 2017 bonds. PDVSA is not considering increasing the swap ratio and said default is not desired but "everything is on the table".

What is different from the previous extensions is that this time, PdVSA warned that "If the Exchange Offers are not successful, it could be difficult for the Company to make scheduled payments on its existing debt, including the Existing Notes (PdVSA 17 News and 17 Olds)". This warning is harsher than Del Pino's (Chairman of the Board & President of PdVSA) threat last week when he declined to give a guarantee for the amortization payment of PdVSA 17 News, though, he said the company will pay PdVSA 16s in case the swap deal does not go through - "existing debt" in yesterday's warning included PdVSA 16s as well.