illiqudx

 

overeigns

Venezuela

"Informal and exploratory" talks resume with holders of the PDVSA 2020 bond The authorities of the interim government presided over by the leader Juan Guaidó, are making some first contacts or links with holders of the PDVSA 2020 bonds to evaluate an arrangement or start of negotiation to try to achieve a payment agreement before January 2023 when in principle the protection or suspension in the cancellation of this obligation expires.   Agreements reached with foreign investors to develop new oil projects:  Representatives of the oil industry in the country have been in conversations with possible investors and have reached agreements and alliances to develop new projects within the industry, explained Enrique Novoa, president of the Venezuelan Oil Chamber.   Citgo will use $286.23 million of its second-quarter earnings to buy back debt The company Citgo, the subsidiary of Petróleos de Venezuela (PDVSA) in the United States issued a statement in which it announces the repurchase part of its 9.25% secured preferred bonds with 2024 maturity, at a purchase price equivalent to 100% of the principal amount plus accrued and unpaid interest. CITGO is taking advantage of the profit registered during the second quarter of 2022. "If the total amount of capital offered exceeds $286.23 million, the company will purchase the bonds that have an amount equal to that of the offer on a prorated basis with the adjustments that the fiduciary deems appropriate," the instruction states. In this sense, the possibility opens that the requests to sell the securities to Citgo reach the amount of 482.67 million dollars establishes a surplus payment scheme through the short-term financing modality.   United States respects Colombia’s decision to restore relationships with Maduro government A U.S. representative stated that his country respects the decision of Colombian President Gustavo Petro to restore relationships with the Venezuelan government of Nicolás Maduro.   Colombia and Venezuela are coordinating the opening of their borders. According to Colombia's business minister last Thursday, the full reopening of the Colombia-Venezuela border will happen sooner rather than later, but it will be contingent on several legal factors and a general improvement in bilateral relations.

Credit  Type / ISIN BID ASK 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 9 Venezuela VENZ 6 12/09/20 8 9 Venezuela VENZ 12 3/4 08/23/22 8.25 9.25 Venezuela VENZ 9 05/07/23 8 9 Venezuela VENZ 8 1/4 10/13/24 8 9 Venezuela VENZ 7.65 04/21/25 8 9 Venezuela VENZ 11 3/4 10/21/26 8.25 9.25 Venezuela VENZ 9 1/4 05/07/28 8 9 Venezuela VENZ 11.95 08/05/31 8.25 9.25 Venezuela VENZ 9 3/8 01/13/34 8.25 9.25 Venezuela VENZ 7 03/31/38 8 9 Venezuela ICSID Claims Call desk for Prices PDVSA PDVSA 8 1/2 10/27/20 15 20 PDVSA PDVSA 9 11/17/21 4 5 PDVSA PDVSA 12 3/4 02/17/22 4 5 PDVSA PDVSA 6 10/28/22 2.5 3.5 PDVSA PDVSA 6 05/16/24 3.5 4.5 PDVSA PDVSA 6 11/15/26 3.5 4.5 PDVSA PDVSA 5 3/8 04/12/27 3.5 4.5 PDVSA PDVSA 9 3/4 05/17/35 3.5 4.5 PDVSA PDVSA 5 1/2 04/12/37 3.5 4.55 PDVSA Promissory Notes Call desk for Prices PDVSA Trade Receivables Call desk for Prices

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Argentina

Bond's Comeback in Argentina Stalls as Massa Has a Mountain to Climb As the new economics minister races against time to persuade investors that he can put his market-friendly rhetoric into practise, the recovery in Argentine debt that began in late July has stopped. The benchmark dollar bonds for the country, which are due in 2030, increased by more than 5 cents to almost 22 cents on the dollar in less than a week because of rumours that Sergio Massa would be named as the "super" economics minister; this was later verified on July 28. But the debt has decreased little since it peaked on August 8. Massa must control inflation that is heading near triple digits, reduce the budget deficit, and increase foreign currency reserves if the bonds are to continue to rise. Convincing grain exporters to send money back to Argentina would be the first step in attaining any of those goals, increasing the country's currency reserves.

Credit Type / ISIN BID ASK Argentina ARGENT 0 1/2 07/09/30 22.1 23.3 Argentina ARGENT 1 07/09/29 23.2 23.3 Argentina ARGENT 1 1/8 07/09/35 21.3 21.9 Argentina ARGENT 2 1/2 07/09/41 26.5 26.7 Argentina ARGENT 2 01/09/38 28.4 28.9 Argentina ARGENT 1 1/8 07/09/46 21.7 23.2 Province of Buenos Aires BUENOS 3.9 09/01/37 29.8 35.1 Province of Buenos Aires BUENOS 2.85 09/01/37 28.2 33.6 Province of Buenos Aires BUENOS 3 1/2 09/01/37 24.5 31 Province of Buenos Aires BUENOS 3 09/01/37 22.5 28.3 Province of Buenos Aires BUENOS 2 09/01/37 22.7 25 Province of Buenos Aires BUENOS 2 1/2 09/01/37 24.9 31.5 YPF YPFDAR 8 1/2 07/28/25 69.4 75.4 YPF YPFDAR 8 3/4 04/04/24 82.1 86.7 YPF YPFDAR 6.95 07/21/27 59.1 64.9 YPF YPFDAR 7 12/15/47 50.6 56.6 YPF YPFDAR 8 1/2 06/27/29 61.3 63.9

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Cuba

Foreign investors in Cuba for wholesale and retail trade for the first time in 60 years. In 1969, Fidel Castro nationalised Cuba's private wholesale and retail industry. Nevertheless, a recently introduced bill for new foreign investment, recognises that the country's centralised government cannot resolve its essential goods shortage without investment from overseas. In May, the US agreed to ease Trump-era sanctions on Cuba. Under the new measures approved by the Biden administration, restrictions on travel and how much money US residents could send back to their families in Cuba family were relaxed.

Ecuador

Guillermo Lasso travels to U.S. after melanoma diagnosis After taking over the office in May last year, Ecuador’s president underwent surgery on July to remove a carcinoma, nevertheless requires additional tests, by recommendation of his doctor, he said at a press briefing before departing to Houston on Tuesday evening.   Luxembourg bailiff orders to freeze Ecuadorian assets due to Perenco case Ecuador’s government pledged in June 2021 to honour a debt, originated by a $392 million dispute, awarded by the ICSID to Perenco; who claims it remains unpaid. On July 28, Luxembourg bailiffs asked 122 banking institutions operation in Luxembourg for accounts to be used by Ecuador on behalf of Perenco and ordered to freeze assets. Ecuador, who aims to restructure its debt and sold bonds with maturities through 2030, 2035 and 20240 listed on the Luxembourg Stock Exchange, and it’s not clear, at the moment, if the effect of the freeze might have on Ecuador’s liquidity, according to analysts.

Credit Type / ISIN BID ASK Ecuador ECUA 5 07/31/30 54.4 57.8 Ecuador ECUA 1 07/31/35 40.9 45.1 Ecuador ECUA 0 07/31/30 36.4 37.6 Ecuador ECUA 0 1/2 07/31/40 35.9 39.4

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El Salvador