ADVERTISEMENT

PDVSA makes payments on $233 million debt

Writing on Twitter, the company announced "the transfer process was started to pay the interest on the PDVSA 8,5% 2020 Bonds and the PDVSA 6% 2022 Bonds."

The company also called on creditors to "trust" its "logistical, productive and financial capacity" -- adding it had "fulfilled all of its commitments, even with the offensive sabotage of imperialism and its national lackeys," referencing American sanctions.

"We confirm the solvency and soundness of our oil industry, in a fight against illegal sanctions," it added.

PVDSA's bonds represent 30 percent of Venezuela's external debt -- estimated to be around $150 billion.

ADVERTISEMENT

The company was dealt a blow on November 16 when the New York-based International Swaps and Derivatives Association committee declared it in default following three missed payments -- a decision which could worsen Caracas's situation, despite a debt restructuring agreement with Russia.

That came after two major financial ratings agencies -- S&P Global Ratings and Fitch -- also declared both Venezuela and PDVSA in partial default.

Meanwhile, the Venezuelan government has not yet addressed its failure to make a $237 million interest payment on bonds due in 2025 and 2026, which should have been made on Tuesday.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

We’re not stopping - Onakoya extends Guinness World record chess marathon target by 2 hours

We’re not stopping - Onakoya extends Guinness World record chess marathon target by 2 hours

'We have done it': Tunde Onakoya reaches 58-hour mark chess marathon

'We have done it': Tunde Onakoya reaches 58-hour mark chess marathon

Forgive me my papa - Self-acclaimed Hausa traditional ruler kneels to beg Oba of Benin

Forgive me my papa - Self-acclaimed Hausa traditional ruler kneels to beg Oba of Benin

Fubara grows Rivers IGR by over 100%, less than 1 year after Wike's tenure

Fubara grows Rivers IGR by over 100%, less than 1 year after Wike's tenure

Plateau University suspends exams over killing of student

Plateau University suspends exams over killing of student

Nigeria laughing stock of the rest of the world due to insecurity - TY Danjuma

Nigeria laughing stock of the rest of the world due to insecurity - TY Danjuma

APC group claims Tinubu’s initiatives stimulating economic recovery

APC group claims Tinubu’s initiatives stimulating economic recovery

Plateau Gov urges calm after attack that led to death of 200-level PLASU student

Plateau Gov urges calm after attack that led to death of 200-level PLASU student

NAFDAC reopens popular Ibadan supermarket shut for selling unregistered product

NAFDAC reopens popular Ibadan supermarket shut for selling unregistered product

Pulse Sports

Lionel Messi's son breaks the internet after scoring five goals for Inter Miami

Lionel Messi's son breaks the internet after scoring five goals for Inter Miami

Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe

Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe

Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024

Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024

ADVERTISEMENT
ADVERTISEMENT