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PDVSA must pay this Thursday $ 1,121.3 million of the 2017 bonus
This disbursement constitutes the last amortization of capital and interest of this title
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IVONNE AYALA
October 31, 2017 06:40 AM
Updated on October 31, 2017 09:42 AM
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PDVSA must pay this Thursday $ 1,121.3 million of the 2017 bonus
Caracas.- A total of 1,121.3 million dollars in liquidation and interest of the Pdvsa 2017 -8.5% bond should cancel the oil company this Thursday, November 2, according to the debt payment schedule subscribed by the company and the Republic, the consulting firm Boungy recalled on Monday.
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Said disbursement constitutes the last amortization of the referred paper, according to the analysts.
Last Friday, October 27, Petróleos de Venezuela announced the transfer to the external paying agent JP Morgan of the amount of $ 841.88 million to proceed with the cancellation of interest on the PDVSA 2020 Bond.
As it became known this Monday, this payment could materialize in the accounts of the holders tomorrow, November 1, since it transpired that the process had taken twenty-four hours longer than usual.
The aforementioned analysis company agrees with other experts in the matter, in pointing out that Venezuela faces in the last four months of this year, one of the most demanding periods in terms of financial disbursements. In this regard, they estimate that this period, in which a total of $ 4.8 million in disbursements is calculated, constitutes "one of the toughest tests of the will and ability to pay of the Republic," Boungy points out.
In this regard, they argue that the disbursements in this period exceeded those executed in the fourth quarter of last year.
"For 2016, Venezuela paid a total of $ 9,839 million in debt, of which $ 4,661 million corresponded to the fourth quarter. For the 4th quarter of 2017 the figure rises to $ 4,762.8 million, a considerably higher test taking into account the exchange of the Pdvsa2017N and PDVSA2017-5.25 bond that gave rise to the Pdvsa 2020-8.5 bonus, "the report quoted indicates. .
And oil on the rise
Turning to the oil market, we have that it continues exhibiting a constant recovery, according to observing the experts in the sector.
Thus, one of the main drivers of the increase in crude oil average to $ 60 a barrel, is the expectation that finally the production cut agreement signed by OPEC and its allies in December will be extended until the end of 2018. 2016
In this regard, yesterday Russia and Saudi Arabia ratified their support for the proposal that is discussed in bilateral meetings prior to the seventh meeting of the Ministerial Monitoring Committee, which will take place at the end of next November.
Experts in the field estimate that the market perceives this scenario as the most plausible, which keeps crude above the $ 60 barrier, "near its highest level since mid-2015."
The international consulting group, JBC Energy, observed on Monday that the positive reaction of the market is based, mainly, on the expectations that the Vienna agreement will go beyond the scheduled date to complete the cut-off period, initially planned for the end of March of the year. coming.
Since the beginning of October, both the Saudi Energy Minister, Khalid al-Falih, and his Russian counterpart Alexandr Nóvak, have publicly expressed their willingness to support the initiative to renew again the cutting strategy used to balance oil prices upwards, as well as stabilizing the market, a position that has made this option seem the most appropriate to consolidate the achievements.
In fact, the Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Mohammad Barkindo, endorsed that "the support of Saudi Arabia and Russia to an extension of the agreement will clarify the outlook for the meeting that will hold the oil cartel on 30 November, "he said.
