Last Thursday, European Union election observers began their mission in Venezuela, as campaigning kicked off for regional elections next month which are set to include opposition candidates. It is the first time in 15 years the EU has sent observers to Venezuela. Opposition parties are participating in the November 21 contest after boycotting presidential and parliamentary elections in 2018 and 2020 respectively. A total of 44 EU observers have arrived in Venezuela so far. They will work in 22 of the country's 23 states, Santos said, adding no personnel will be sent to the Amazonas state due to transport difficulties and the coronavirus pandemic. Also last week, the National Electoral Council and the Carter Center have agreed to form an International Mission of Electoral Experts from the United States to take part in the upcoming regional and municipal elections on November 21.

 

Venezuela Last week, according to sources from Reuters, Citgo Petroleum is preparing to appoint two new members of its board of directors to help steer the company during the upcoming negotiations between its parent boards and creditors. People familiar with the matter indicated that CITGO management would work closely with the supervisory boards, preparing to start talks to prevent the company's division through an auction process backed by a US court. Citgo Chief Executive Carlos Jordá is expected to rejoin the board, and the company's chief legal and government affairs official, Jack Lynch, will serve on the board. Last Thursday,  European Union election observers began their mission in Venezuela, as campaigning kicked off for regional elections next month which are set to include opposition candidates. It is the first time in 15 years the EU has sent observers to Venezuela. Opposition parties are participating in the November 21 contest after boycotting presidential and parliamentary elections in 2018 and 2020 respectively. A total of 44 EU observers have arrived in Venezuela so far. They will work in 22 of the country's 23 states, Santos said, adding no personnel will be sent to the Amazonas state due to transport difficulties and the coronavirus pandemic. Also last week, the National Electoral Council and the Carter Center have agreed to form an International Mission of Electoral Experts from the United States to take part in the upcoming regional and municipal elections on November 21. Last but not least, last week a 2.1 million-barrel cargo of Iranian condensate was delivered in Venezuela. The U.S.-sanctioned state oil companies from both countries, PDVSA and National Iranian Oil Company (NIOC), last month agreed to a contract, in effect for six months in its first phase, to exchange Iranian condensate for Venezuelan heavy crude.

 

Credit Type / ISIN Indicative price (%)* Venezuela VENZ 13 5/8 08/15/18 10.25 10.75 Venezuela VENZ 9 ¼ 09/15/27 10.25 10.75 Venezuela VENZ 7 3/4 10/13/19      9.5 10.5 Venezuela VENZ 6 12/09/20      9.5 10.5 Venezuela VENZ 12 3/4 08/23/22 10.25 10.75 Venezuela VENZ 9 05/07/23 10 10.75 Venezuela VENZ 8 1/4 10/13/24 10 10.75 Venezuela VENZ 7.65 04/21/25 10 10.75 Venezuela VENZ 11 3/4 10/21/26 10.25 10.75 Venezuela VENZ 9 1/4 05/07/28 10 10.75 Venezuela VENZ 11.95 08/05/31 10.25 10.75 Venezuela VENZ 9 3/8 01/13/34 10 10.75 Venezuela VENZ 7 03/31/38 10 10.75 Venezuela ICSID Claims Call desk for Prices PDVSA PDVSA 8 1/2 10/27/20 25 28 PDVSA PDVSA 9 11/17/21 5.25 6 PDVSA PDVSA 12 3/4 02/17/22 5.25 6 PDVSA PDVSA 6 10/28/22 3 4 PDVSA PDVSA 6 05/16/24 5.25 6 PDVSA PDVSA 6 11/15/26 5.25 6 PDVSA PDVSA 5 3/8 04/12/27 5.25 6 PDVSA PDVSA 9 3/4 05/17/35 5.25 6 PDVSA PDVSA 5 1/2 04/12/37 5.25 6 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 President Alberto Fernández has declared that "Argentina cannot pay" the $19bn it owes the International Monetary Fund next year in debt repayments, adding that the terms of the 2018 credit-line agreed by former president Mauricio Macri are "impossible to fulfill.", the BA Times reported. President Alberto Fernández previously told business leaders that Argentina is “absolutely” committed to agreeing a new financing programme with the International Monetary Fund and restructuring its multi-billion-dollar debt.

 

Credit Type / ISIN Indicative price (%)* Argentina ARGENT 0 1/2 07/09/30 34.1 34.6 Argentina ARGENT 1 07/09/29 36 37 Argentina ARGENT 1 1/8 07/09/35 30.5 31.9 Argentina ARGENT 2 1/2 07/09/41 34.2 34.5 Argentina ARGENT 2 01/09/38 36.4 37.4 Argentina ARGENT 1 1/8 07/09/46 30.4 32.7 Buenos Aires BUENOS 3.9 09/01/37 44 45.5 Buenos Aires BUENOS 2.85 09/01/37 40.5 42 Buenos Aires BUENOS 3 1/2 09/01/37 38.1 40.6 Buenos Aires BUENOS 3 09/01/37 34.2 39.6 Buenos Aires BUENOS 2 09/01/37 28.8 34.8 Buenos Aires BUENOS 2 1/2 09/01/37 32.7 36 YPF YPFDAR 8 1/2 07/28/25 79.4 81.1 YPF YPFDAR 8 3/4 04/04/24 89.5 91.7 YPF YPFDAR 6.95 07/21/27 69.9 72.1 YPF YPFDAR 7 12/15/47 64.7 66.2 YPF YPFDAR 8 1/2 06/27/29 76.5 77.9 Banco Macro BMAAR 6 3/4 11/04/26 84.9 87.9 * Indicative price for positions with institutional size only. For smaller sizes please call des