Venezuela France’s TotalEnergies is in talks to sell its majority stake in the YPergas joint venture (JV) in Venezuela to private equity group Sucre Energy, reported Bloomberg, citing people familiar with the matter. The move forms part of the French oil and gas company’s efforts to withdraw from natural gas operations and end future investments in Venezuela

 

Venezuela France’s TotalEnergies is in talks to sell its majority stake in the YPergas joint venture (JV) in Venezuela to private equity group Sucre Energy, reported Bloomberg, citing people familiar with the matter. The move forms part of the French oil and gas company’s efforts to withdraw from natural gas operations and end future investments in Venezuela. The latest talks come months after the French firm’s exit from the oil business in the country. In July 2021, the firm had divested its 30.32% interest in the Petrocedeño JV to Corporation Venezonala de Petróleos (CVP), an affiliate of Petróleos de Venezuela (PDVSA). Total owns a 69.5% stake in the YPergas project, in which Spain’s Repsol holds a 15% stake while two other Venezuelan firms own the remaining interests. Supported by medium-size Asian and European funds, Sucre has been looking to acquire cheaper assets in Venezuela’s energy sector. Several foreign investors have exited the energy industry in the crisis-stricken country, citing tough conditions as a result of mismanagement, and the US sanctions. Last year, Sucre acquired Inpex’s 70% stake in the gas JV Gas Guarico, as well as a 30% interest in the Petroguarico oil JV. Last but not least, Venezuelan opposition parties on Saturday staged one of their largest rallies since the coronavirus pandemic erupted, hearing calls for unity to end more than two decades of socialist governments — though they were outnumbered by a pro-government demonstration elsewhere in the capital. Juan Guaidó, the former congressman who three years ago proclaimed himself Venezuela’s legitimate leader, urged the hundreds who gathered in Caracas, the capital, to unify and push for an early presidential election ahead of the currently scheduled vote in 2024.

 

Credit Type / ISIN Indicative price (%)* Venezuela VENZ 13 5/8 08/15/18 5.75 6.75 Venezuela VENZ 9 ¼ 09/15/27 5.75 6.75 Venezuela VENZ 7 3/4 10/13/19 5.75 6.75 Venezuela VENZ 6 12/09/20 5.75 6.75 Venezuela VENZ 12 3/4 08/23/22 5.75 6.75 Venezuela VENZ 9 05/07/23 5.75 6.75 Venezuela VENZ 8 1/4 10/13/24 5.75 6.75 Venezuela VENZ 7.65 04/21/25 5.75 6.75 Venezuela VENZ 11 3/4 10/21/26 5.75 6.75 Venezuela VENZ 9 1/4 05/07/28 5.75 6.75 Venezuela VENZ 11.95 08/05/31 5.75 6.75 Venezuela VENZ 9 3/8 01/13/34 5.75 6.75 Venezuela VENZ 7 03/31/38 5.75 6.75 Venezuela ICSID Claims Call desk for Prices PDVSA PDVSA 8 1/2 10/27/20 15 17.5 PDVSA PDVSA 9 11/17/21 3.75 4.75 PDVSA PDVSA 12 3/4 02/17/22 3.75 4.75 PDVSA PDVSA 6 10/28/22 2.0 3.5 PDVSA PDVSA 6 05/16/24 3.75 4.75 PDVSA PDVSA 6 11/15/26 3.75 4.75 PDVSA PDVSA 5 3/8 04/12/27 3.75 4.75 PDVSA PDVSA 9 3/4 05/17/35 3.75 4.75 PDVSA PDVSA 5 1/2 04/12/37 3.75 4.75 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 International Monetary Fund staff are working closely with officials in Argentina to secure an agreement on a new financing deal "as quickly as possible," a spokesman for the multilateral lender said Thursday. President Alberto Fernández's government in late January announced it had reached an "understanding" with the International Monetary Fund on key policies needed for a deal on its existing $44.5bn debt with the crisis lender. In recent weeks, the government has paid just over $1bn in principle and interest on the loan, but is seeking to restructure the remaining payments, which were due this year and next.

 

Credit Type / ISIN Indicative price (%)* Argentina ARGENT 0 1/2 07/09/30 32.4 32.8 Argentina ARGENT 1 07/09/29 33.3 34.1 Argentina ARGENT 1 1/8 07/09/35 29.4 30.1 Argentina ARGENT 2 1/2 07/09/41 33.4 33.8 Argentina ARGENT 2 01/09/38 35.8 36.5 Argentina ARGENT 1 1/8 07/09/46 29.7 30.4 Province of Buenos Aires BUENOS 3.9 09/01/37 40.9 45.3 Province of Buenos Aires BUENOS 2.85 09/01/37 34.5 38.6 Province of Buenos Aires BUENOS 3 1/2 09/01/37 34.2 40.4 Province of Buenos Aires BUENOS 3 09/01/37 32.2 34.4 Province of Buenos Aires BUENOS 2 09/01/37 30 32.5 Province of Buenos Aires BUENOS 2 1/2 09/01/37 32 37.2 YPF YPFDAR 8 1/2 07/28/25 78.2 81.6 YPF YPFDAR 8 3/4 04/04/24 91.3 95.6 YPF YPFDAR 6.95 07/21/27 67.3 71.2 YPF YPFDAR 7 12/15/47 61.9 68.8 YPF YPFDAR 8 1/2 06/27/29 71.9 75.6 Banco Macro BMAAR 6.643 11/04/26 83.6 86.2 * Indicative price for positions with institutional size only. For smaller sizes please call des