bill proposing to turn sanctions against the South American country into law, including a secondary market trading ban

 

Venezuela Bonds Fall as US Senators Propose Sanctions Bill

Bloomberg News

Venezuela’s defaulted bonds fell across the curve on Friday after US senators introduced a bill proposing to turn sanctions against the South American country into law, including a secondary market trading ban.

• Government notes that matured in 2022 are down 0.6 cents to trade at around 17 cents on the dollar, according to pricing data compiled by Bloomberg
  • Bonds from state-owned oil company PDVSA maturing in 2026 fell by a cent to around 10 cents on the dollar
• The bipartisan initiative, led by senators Jim Risch and Michael Bennet, is called Venezuela Advancing Liberty, Opportunity, and Rights Act (VALOR Act) .