Montag, 28. November 2022

New Venezuelan political talks to resume 26th November 2022, Norway says On 26th November, 2022, in Mexico, the Venezuelan government and opposition will pick up where they left off in their political negotiations, the Norwegian foreign ministry said last Thursday. Chevron can resume key role in Venezuela's oil output, exports The second-largest American oil corporation, Chevron Corp., was granted a licence on Saturday that would enable it to increase production in Venezuela and import crude oil from the South American nation to the United States. The judgement extends more privileges to the only significant American oil business still operating in Venezuela under the US embargo. But it limits any monetary transfers to Venezuela, which would cut down on the amount of oil that can be exported. Chevron's Venezuelan oil exports will not profit state-run PDVSA - Washi

 

Venezuela

New Venezuelan political talks to resume 26th November 2022, Norway says

On 26th November, 2022, in Mexico, the Venezuelan government and opposition will pick up where they left off in their political negotiations, the Norwegian foreign ministry said last Thursday.

Chevron can resume key role in Venezuela's oil output, exports

The second-largest American oil corporation, Chevron Corp., was granted a licence on Saturday that would enable it to increase production in Venezuela and import crude oil from the South American nation to the United States. The judgement extends more privileges to the only significant American oil business still operating in Venezuela under the US embargo. But it limits any monetary transfers to Venezuela, which would cut down on the amount of oil that can be exported.

 

Chevron's Venezuelan oil exports will not profit state-run PDVSA - Washington source

According to a source familiar with the situation, the US license allowing Chevron Corp to increase oil production and export oil from Venezuela would be made to prohibit the country's state-run oil company PDVSA from making money from the sales.

Guaidó announces he will reinstate National Assembly on 5 January 

Juan Guaidó, the president of the National Assembly elected in 2015 (‘2015AN’), promised last week during a news conference that he would call the session of installation of the 2015AN on 5 January 2023, so extending the term of the temporary government he heads.

 

Venezuela's frozen funds to be gradually released for humanitarian aid

According to delegates in Mexico City on Saturday, the Venezuelan delegations of the government and opposition have asked the UN to manage a fund for billions of dollars currently kept in foreign banks, after the talks resumed a year after, that will be gradually unfrozen to combat a humanitarian crisis in the oil-rich country.

 

Issuer

Ticker

Bid

Ask

Republic of Venezuela

VENZ 13 5/8 08/15/18

7.5

8.5

Republic of Venezuela

VENZ 9 ¼ 09/15/27

7.5

8.5

Republic of Venezuela

VENZ 7 3/4 10/13/19

6.5

7.5

Republic of Venezuela

VENZ 6 12/09/20

6.5

7.5

Republic of Venezuela

VENZ 12 3/4 08/23/22

7.5

8.5

Republic of Venezuela

VENZ 9 05/07/23

6.5

7.5

Republic of Venezuela

VENZ 8 1/4 10/13/24

6.5

7.5

Republic of Venezuela

VENZ 7.65 04/21/25

6.5

7.5

Republic of Venezuela

VENZ 11 3/4 10/21/26

7.5

8.5

Republic of Venezuela

VENZ 9 1/4 05/07/28

6.5

7.5

Republic of Venezuela

VENZ 11.95 08/05/31

7.5

8.5

Republic of Venezuela

VENZ 9 3/8 01/13/34

6.5

7.5

Republic of Venezuela

VENZ 7 03/31/38

6.5

7.5

Republic of Venezuela

ICSID Claims

Call desk for Prices

Petróleos de Venezuela SA

PDVSA 8 1/2 10/27/20

15.0

19.0

Petróleos de Venezuela SA

PDVSA 9 11/17/21

3.5

4.5

Petróleos de Venezuela SA

PDVSA 12 3/4 02/17/22

3.5

4.5

Petróleos de Venezuela SA

PDVSA 6 10/28/22

2.0

3.0

Petróleos de Venezuela SA

PDVSA 6 05/16/24

3.5

4.5

Petróleos de Venezuela SA

PDVSA 6 11/15/26

3.5

4.5

Petróleos de Venezuela SA

PDVSA 5 3/8 04/12/27

3.5

4.5

Petróleos de Venezuela SA

PDVSA 9 3/4 05/17/35

3.5

4.5

Petróleos de Venezuela SA

PDVSA 5 1/2 04/12/37

3.5

4.5

*Indicative price for position with institutional size only. For smaller sizes please call desk.

Argentina

Argentina to Sell Lelites, Ledes, USD-Linked bonds on 28th November

Argentina will sell Treasury liquidity notes, discount notes and dollar-linked bonds in a local auction on 28th November 2022, according to an emailed economy ministry statement.

 

Issuer

Ticker

Bid

Ask

REPUBLIC OF ARGENTINA

ARGENT 4 5/8 01/11/23

38.6

39.5

REPUBLIC OF ARGENTINA

ARGTES 16 10/17/23

56.0

57.4

REPUBLIC OF ARGENTINA

ARGENT 5 7/8 01/11/28

38.6

39.5

REPUBLIC OF ARGENTINA

ARGENT 1 07/09/29

23.7

24.7

REPUBLIC OF ARGENTINA

ARGENT 0 1/2 07/09/29

21.0

23.2

REPUBLIC OF ARGENTINA

ARGENT 0 1/2 07/09/30

24.4

25.2

REPUBLIC OF ARGENTINA

ARGENT 0 1/8 07/09/30

19.4

21.8

REPUBLIC OF ARGENTINA

ARGENT 8.28 12/31/33

38.6

39.5

REPUBLIC OF ARGENTINA

ARGENT 8.28 12/31/33

38.6

39.6

REPUBLIC OF ARGENTINA

ARGENT 0 7/8 07/09/35

19.5

20.9

REPUBLIC OF ARGENTINA

ARGENT 1 1/2 07/09/35

21.9

22.8

REPUBLIC OF ARGENTINA

ARGENT 3 7/8 01/09/38

29.0

29.9

REPUBLIC OF ARGENTINA

ARGENT 2 1/2 12/31/38

38.6

39.5

REPUBLIC OF ARGENTINA

ARGENT 3.38 12/31/38

26.8

27.9

REPUBLIC OF ARGENTINA

ARGENT 3 3/4 12/31/38

38.6

39.5

REPUBLIC OF ARGENTINA

ARGENT 2 1/2 12/31/38

44.4

47.8

REPUBLIC OF ARGENTINA

ARGENT 3 3/4 12/31/38

44.4

47.8

REPUBLIC OF ARGENTINA

ARGENT 3.38 12/31/38

26.0

28.7

REPUBLIC OF ARGENTINA

ARGENT 0.67 12/31/38

13.5

25.5

REPUBLIC OF ARGENTINA

ARGENT 2 1/2 12/31/38

44.4

47.8

REPUBLIC OF ARGENTINA

ARGENT 3 1/2 07/09/41

25.9

27.0

REPUBLIC OF ARGENTINA

ARGENT 2 3/4 07/09/41

21.0

22.9

REPUBLIC OF ARGENTINA

ARGENT 1 1/2 07/09/46

22.5

24.0

REPUBLIC OF ARGENTINA

ARGENT 0 7/8 07/09/46

19.5

21.7

REPUBLIC OF ARGENTINA

ARGENT 6 7/8 01/11/48

38.6

39.5

*Indicative price for position with institutional size only. For smaller sizes please call desk.

Cuba

China will donate USD 100m to Cuba, according to AFP 

Cuban President Miguel Diaz-Canel and Chinese President Xi Jinping discussed the restructuring of debt the island nation owes China, AFP reported, citing Cuban Deputy Prime Minister Alejandro Gil. The two countries are seeking mutually acceptable formulas for the debt, Gil was quoted as saying.  China will donate USD 100m to Cuba and discussed debt relief to help the nation weather an economic crisis, according to AFP.

 

Issuer

Ticker

Bid

Ask

REPUBLIC OF CUBA

Debt

0.5

2.0

*Indicative price for position with institutional size only. For smaller sizes please call desk.

El Salvador

El Salvador steps closer to issuing controversial Bitcoin bonds

El Salvador is one step closer to financing USD 1bn through the first sovereign blockchain bond in the world after the presidency forwarded a digital securities bill to MPs. A copy of the 33-page bill, which establishes a Bitcoin Fund Management Agency to monitor debt deals involving cryptocurrencies and a commission for digital assets, was made available by the White House late on Tuesday.

 

Issuer

Ticker

Bid

Ask

REPUBLIC OF EL SALVADOR

ELSALV 9 1/2 07/15/52

40.5

42.3

REPUBLIC OF EL SALVADOR

ELSALV 7.1246 01/20/50

34.8

36.9

REPUBLIC OF EL SALVADOR

ELSALV 8 1/4 04/10/32

39.5

41.3

REPUBLIC OF EL SALVADOR

ELSALV 8 5/8 02/28/29

40.8

42.6

REPUBLIC OF EL SALVADOR

ELSALV 6 3/8 01/18/27

39.4

41.4

REPUBLIC OF EL SALVADOR

ELSALV 5 7/8 01/30/25

58.7

60.6

REPUBLIC OF EL SALVADOR

ELSALV 7 3/4 01/24/23

90.2

91.3

*Indicative price for position with institutional size only. For smaller sizes please call desk.

Ethiopia

Ethiopia increases tax revenue 31%

Tax revenue of Ethiopia during the first four months of the current year started on 8 July 2022 has increased by 31.5% to about ETB 163bn (USD 3bn) from same period last year. Out of the total tax revenue ETB 105.3bn (USD1.96bn) is collected from domestic revenue, while ETB 57.8bn (USD 1.08bn) is secured from international trade taxes, according to the Minister. In its report the Ministry of Revenue of Ethiopia indicated that it has achieved 97.9% of its target for the period. 

 

Ethiopia starts selling power to Kenya, eyes USD 100m annual returns

Ethiopia on Thursday officially started commercial power exports to Kenya, the state power utility Ethiopian Electric Power (EEP) announced. The long-awaited power sale to Nairobi comes one week after Ethiopia conducted a successful test run of electricity supply to Kenya via the 500KV cross-border transmission power line built to link power grids of the two neighbours. In a statement, EEP said that Ethiopia has completed activities to ensure uninterrupted and reliable transmission of power to Kenya while noting that Kenya will similarly execute and implement pending activities on its part.

 

Ethiopia, South Korea discuss trade ties

The Minister of Trade and Regional Integration of Ethiopia Gebremeskel Chala received South Korean Ambassador to Ethiopia Kang Seokhee in his office and discussed trade ties between the two nations. The discussion focused on the conditions that will enable the two countries to strengthen the trade ties and engage in investment in the future, according to the information.

 

Issuer

Ticker

Bid

Ask

FEDERAL REP OF ETHIOPIA

ETHOPI 6 5/8 12/11/24

60.8

62.9

*Indicative price for position with institutional size only. For smaller sizes please call desk.

Lebanon

Lebanon MPs fail for 7th time to elect president despite economic crisis

Lebanese lawmakers failed for a 7th time Thursday to elect a successor to former president Michel Aoun, even though the vacancy is hampering efforts to rescue the stricken economy. Parliament is split between supporters of the Iran-backed Hezbollah group and its opponents, neither of whom have a clear majority.

 

Tenfold increase in customs duties

The Ministry of Finance announced on Wednesday that the government will start collecting customs duties with a tenfold increase, starting on 1st December. The announcement came a day after the Governor of the Banque du Liban said that the official exchange rate of the dollar would be raised to LBP 15,000 as of February. Minister of Finance in the caretaker government, Youssef Al-Khalil, said that his ministry has sent a letter to Banque du Liban, informing it that it would calculate foreign exchange rates on taxes and fees collected by the Customs Administration on imported goods and merchandise, on the basis of LBP 15,000 per USD, as of 1st December.

 

WFP to allocate USD 5.4bn for Lebanon over 3 years

The World Food Programme has agreed to allocate USD 5.4bn for aid to Lebanon over the next 3 years, Lebanese caretaker Prime Minister Najib Mikati said on Monday, following a meeting with the agency’s country director. Mikati said the aid would be split, with half going to Lebanese and the other half to Syrian refugees, more than 1 million of whom live in Lebanon.

 

Issuer

Ticker

Bid

Ask

LEBANESE REPUBLIC

LEBAN 6 3/8 03/09/20

5.9

6.8

LEBANESE REPUBLIC

LEBAN 5.8 04/14/20

5.9

6.8

LEBANESE REPUBLIC

LEBAN 6.15 06/19/20

5.9

6.8

LEBANESE REPUBLIC

LEBAN 6 1/4 05/27/22

5.9

6.8

LEBANESE REPUBLIC

LEBAN 6.1 10/04/22

5.9

6.8

LEBANESE REPUBLIC

LEBAN 6 01/27/23

5.9

6.7

LEBANESE REPUBLIC

LEBAN 6.4 05/26/23

5.9

6.8

LEBANESE REPUBLIC

LEBAN 6.65 04/22/24

5.9

6.7

LEBANESE REPUBLIC

LEBAN 6 1/4 11/04/24

5.9

6.7

LEBANESE REPUBLIC

LEBAN 7 12/03/24

5.9

6.8

LEBANESE REPUBLIC

LEBAN 6.2 02/26/25

5.8

6.7

LEBANESE REPUBLIC

LEBAN 6 1/4 06/12/25

5.8

6.7

LEBANESE REPUBLIC

LEBAN 6.6 11/27/26

5.8

6.7

LEBANESE REPUBLIC

LEBAN 6.85 03/23/27

5.8

6.8

LEBANESE REPUBLIC

LEBAN 6 3/4 11/29/27

5.8

6.8

LEBANESE REPUBLIC

LEBAN 7 03/20/28

5.8

6.8

LEBANESE REPUBLIC

LEBAN 6.65 11/03/28

5.8

6.7

LEBANESE REPUBLIC

LEBAN 6.85 05/25/29

5.9

6.8

LEBANESE REPUBLIC

LEBAN 6.65 02/26/30

5.8

6.7

LEBANESE REPUBLIC

LEBAN 7 04/22/31

5.9

6.7

LEBANESE REPUBLIC

LEBAN 7.15 11/20/31

5.8

6.7

LEBANESE REPUBLIC

LEBAN 7 03/23/32

5.8

6.7

LEBANESE REPUBLIC

LEBAN 8.2 05/17/33

5.8

6.7

LEBANESE REPUBLIC

LEBAN 8 1/4 05/17/34

5.8

6.8

LEBANESE REPUBLIC

LEBAN 7.05 11/02/35

5.9

6.8

LEBANESE REPUBLIC

LEBAN 7 1/4 03/23/37

5.9

6.8

*Indicative price for position with institutional size only. For smaller sizes please call desk.

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