distressed

 

Venezuela Maduro was quick to back the Russian leader in the early stages of the invasion last month, pledging “strong support” for the Kremlin in a call between the two leaders. The renewed stance with Russia of last week comes just after US diplomats and representatives from other countries met to discuss measures for stabilising the Latin American country. The Venezuelan leader told the media in a press conference that his government had “examined the powerful military cooperation and ratified the path of powerful military cooperation between Russia and Venezuela”. He continued this was “for the defence of peace, of sovereignty, of the defence of territorial integrity”. Maduro added Venezuela “will increase all plans for preparation, training and cooperation with a world military power like Russia”. Also last week, World Bank's International Center for the Settlement of Investment Disputes (ICSID) ordered Venezuela to pay around USD 1.6bn as compensation for the expropriation of the assets of the Agroisleña agricultural supply corporation assets and other agrochemical companies, properties of the Spanish conglomerate Grupo Agroinsumos Ibero-Americanos. The ISCSID issued this award on March 23, in which it decided to rule in favor of the Spanish conglomerate and condemned Venezuela to said payment as compensation for its breach of the agreement for Reciprocal Promotion and Protection of Investments between Spain and Venezuela. A lawmaker of the National Assembly (AN) for the ruling PSUV party and member of Nicolás Maduro's delegation in the negotiations in Mexico, Francisco Torrealba, said last week that he considers it "better" that the talks with the opposition take place in Venezuela. Torrealba assured that "Mexico has not been reactivated as the venue" and added that "the Norwegian format is precisely which it is proposed to be reformatted to open the doors to the social sectors and to the parties that have not been able to participate." Although the format and location of the negotiations have not been officially defined so far, some moderate opposition parties have expressed their willingness to participate.

 

Credit Type / ISIN Indicative price (%)* Venezuela VENZ 13 5/8 08/15/18 8.5 9.5 Venezuela VENZ 9 ¼ 09/15/27 8.5 9.5 Venezuela VENZ 7 3/4 10/13/19 8.5 9.5 Venezuela VENZ 6 12/09/20 8.5 9.5 Venezuela VENZ 12 3/4 08/23/22 8.5 9.5 Venezuela VENZ 9 05/07/23 8.5 9.5 Venezuela VENZ 8 1/4 10/13/24 8.5 9.5 Venezuela VENZ 7.65 04/21/25 8.5 9.5 Venezuela VENZ 11 3/4 10/21/26 8.5 9.5 Venezuela VENZ 9 1/4 05/07/28 8.5 9.5 Venezuela VENZ 11.95 08/05/31 8.5 9.5 Venezuela VENZ 9 3/8 01/13/34 8.5 9.5 Venezuela VENZ 7 03/31/38 8.5 9.5 Venezuela ICSID Claims Call desk for Prices PDVSA PDVSA 8 1/2 10/27/20 16 19 PDVSA PDVSA 9 11/17/21 6.5 7.5 PDVSA PDVSA 12 3/4 02/17/22 6.5 7.5 PDVSA PDVSA 6 10/28/22 4.0 5.0 PDVSA PDVSA 6 05/16/24 6.5 7.5 PDVSA PDVSA 6 11/15/26 6.5 7.5 PDVSA PDVSA 5 3/8 04/12/27 6.5 7.5 PDVSA PDVSA 9 3/4 05/17/35 6.5 7.5 PDVSA PDVSA 5 1/2 04/12/37 6.5 7.5 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