Venezuela Last week, the European Parliament decided to deploy a European parliamentary mission (MEP) to monitor the elections for mayors and governors that will take place on November 21. The informants indicated that the parliamentary delegation would be made up of 12 members in total, with representation from the different factions of the congress. The MEP will join the technical mission of the European Union (EU) confirmed by the EU High Representative for Foreign Affairs Josep Borrell at the end of September. In this way, the EP has chosen to endorse the observation by sending a delegation to follow up during regional elections.

 

Venezuela Last week, the European Parliament decided to deploy a European parliamentary mission (MEP) to monitor the elections for mayors and governors that will take place on November 21. The informants indicated that the parliamentary delegation would be made up of 12 members in total, with representation from the different factions of the congress. The MEP will join the technical mission of the European Union (EU) confirmed by the EU High Representative for Foreign Affairs Josep Borrell at the end of September. In this way, the EP has chosen to endorse the observation by sending a delegation to follow up during regional elections. Also last week, Monómeros Colombo Venezolanos, a fertiliser firm, has withdrawn from its corporate restructuring process in order to participate in the Colombian government's bankruptcy rescue and protection plan. PEQUIVEN, a Venezuelan petrochemical company, had made this request "as an alternative to resolving arrears with its suppliers." Last but not least, Secretary of State Antony Blinken called Venezuela’s decision to withdraw from talks with the political opposition “deeply unfortunate,” saying the move showed how President Nicolas Maduro put his own interests ahead of his country’s. Speaking at a news conference in Quito, Ecuador, Blinken said the extradition of Colombian businessman Alex Saab, an ally of Maduro’s, had been “going on for the better part of a decade.” He denied any link between the move and the U.S. push for Maduro to clear the way for democratic elections in Venezuela. Alex Saab, appeared last week for the first time to Judge John O'Sullivan of the US federal court for the southern district of Florida during his first hearing after being extradited from Cape Verde to the US. In a letter read last Sunday by Saab's wife, Camila Fabri, during a public act in Caracas in protest to demand his release, the businessman assured before his extradition that he has not committed any crime and will not collaborate with the US government.

 

Credit Type / ISIN Indicative price (%)* Venezuela VENZ 13 5/8 08/15/18 10.5 11 Venezuela VENZ 9 ¼ 09/15/27 10.5 11 Venezuela VENZ 7 3/4 10/13/19 10 11 Venezuela VENZ 6 12/09/20 10 11 Venezuela VENZ 12 3/4 08/23/22 10.5 11 Venezuela VENZ 9 05/07/23 10 11 Venezuela VENZ 8 1/4 10/13/24 10 11 Venezuela VENZ 7.65 04/21/25 10 11 Venezuela VENZ 11 3/4 10/21/26 10.5 11 Venezuela VENZ 9 1/4 05/07/28 10 11 Venezuela VENZ 11.95 08/05/31 10.5 11 Venezuela VENZ 9 3/8 01/13/34 10 11 Venezuela VENZ 7 03/31/38 10 11 Venezuela ICSID Claims Call desk for Prices PDVSA PDVSA 8 1/2 10/27/20 25 28 PDVSA PDVSA 9 11/17/21 5.5 6.5 PDVSA PDVSA 12 3/4 02/17/22 5.5 6.5 PDVSA PDVSA 6 10/28/22 3.0 4.5 PDVSA PDVSA 6 05/16/24 5.5 6.5 PDVSA PDVSA 6 11/15/26 5.5 6.5 PDVSA PDVSA 5 3/8 04/12/27 5.5 6.5 PDVSA PDVSA 9 3/4 05/17/35 5.5 6.5 PDVSA PDVSA 5 1/2 04/12/37 5.5 6.5 PDVSA Promissory Notes Call desk for Prices PDVSA Trade Receivables Call desk for Prices * Indicative price for positions with institutional size only. For smaller sizes please call desk

 

 

Argentina Following reports that any deal won’t be sealed until early 2022, President Alberto Fernández told business leaders on Friday that Argentina is “absolutely” committed to agreeing a new financing programme with the International Monetary Fund and restructuring its multi-billion-dollar debt, the BA Times reported. The IMF and Argentina have also been negotiating for months toward a new Extended Fund Facility program to deal with the South American country's $45bn debt to the Fund. The country needs a reduction on the existing interest rates on its debt with the IMF as well as more time to pay back the loan, Fernández added.

 

Credit Type / ISIN Indicative price (%)* Argentina ARGENT 0 1/2 07/09/30 35 35.5 Argentina ARGENT 1 07/09/29 37.2 37.4 Argentina ARGENT 1 1/8 07/09/35 31.1 31.7 Argentina ARGENT 2 1/2 07/09/41 35.1 35.3 Argentina ARGENT 2 01/09/38 37.2 37.6 Argentina ARGENT 1 1/8 07/09/46 32.1 32.7 Province of Buenos Aires BUENOS 3.9 09/01/37 42.8 46.3 Province of Buenos Aires BUENOS 2.85 09/01/37 40.5 41.2 Province of Buenos Aires BUENOS 3 1/2 09/01/37 37.8 40.8 Province of Buenos Aires BUENOS 3 09/01/37 35.5 39.7 Province of Buenos Aires BUENOS 2 09/01/37 30 33.3 Province of Buenos Aires BUENOS 2 1/2 09/01/37 33 36.2 YPF YPFDAR 8 1/2 07/28/25 81.4 82.8 YPF YPFDAR 8 3/4 04/04/24 89.5 92.1 YPF YPFDAR 6.95 07/21/27 72.1 73 YPF YPFDAR 7 12/15/47 65.2 66.8 YPF YPFDAR 8 1/2 06/27/29 76.6 80.6 Banco Macro BMAAR 6 3/4 11/04/26 84.6 87.4 * Indicative price for positions with institutional size only. For smaller sizes please call desk