Estados Unidos prolongó hasta mediados de abril la licencia que impide que los tenedores de los bonos PDVSA 2020 tomen el control del 50,1% de las acciones de Citgo, filial de la petrolera estatal venezolana, informó este martes el Departamento del Tesoro. La Oficina de Control de Activos Extranjeros (OFAC) de este departamento emitió la licencia 5N que “autoriza ciertas tra nsacciones” relacionadas con los bonos PDVSA con vencimiento en 2020 partir del 16 de abril de 2024. En la práctica esto significa otros tres meses de protección para Citgo, con sede en Estados Unidos. Texto Completo -> DiarioLaAméricas

The New York Second Circuit Court of Appeals requested guidance on whether bondholders can seize the controlling stake in Citgo that they hold as collateral after not receiving payments on bonds secured by the Houston-based refiner. More information -> WSJ

Traducción de cortesía->La Corte de Apelaciones del Segundo Circuito de Nueva York solicitó orientación sobre si los tenedores de bonos pueden apoderarse de la participación mayoritaria en Citgo que tienen como garantía después de no recibir los pagos de los bonos garantizados por la refinería con sede en Houston.

A bond that trades at 10 cents on the dollar is about as distressed as distressed gets. And yet in Venezuela, which has been mired in default for years, when prices ticked higher around that level this week, it marked a sudden sign of growing optimism. As recently as two weeks ago, they were quoted at just 6 cents. By Maria Elena Vizcaino and Nicolle Yapur. Full Text ->BNNBloomberg

Traducción de cortesía ->Un bono que se negocia a 10 centavos por dólar está tan en problemas como se puede llegar a estar en problemas. Y, sin embargo, en Venezuela, que ha estado sumida en el incumplimiento durante años, cuando los precios subieron alrededor de ese nivel esta semana, marcó una repentina señal de creciente optimismo. Hace tan solo dos semanas, se cotizaron a solo 6 centavos.

Traducción al español -> Google Translación

Holders of PDVSA’s 2020 bond, which is backed by a majority stake in Citgo’s parent company (CITGO Holding, Inc.), will not be able to exercise rights to that collateral until Oct. 21, according to a new license issued by the U.S. Treasury Department’s Office of Foreign Assets Control, which oversees U.S. sanctions. By Luc Cohen. Full Text-> Reuters

A U.S. judge on Friday ruled that Venezuelan state oil company Petroleos de Venezuela’s [PDVSA.UL] 2020 bonds are “valid and enforceable,” a court document showed, in a setback for opposition leader Juan Guaido. In a statement Friday afternoon, Guaido’s team said it would consider appealing the decision, calling the issuing of the bonds “absolutely fraudulent.” By Vivian Sequera and Luc Cohen. Full Text -> Reuters

The Venezuela Creditors Committee, one of two creditor groups with Venezuelan sovereign bonds, said Monday that it welcomed the interpretation of the prescription clauses in the country’s bonds offered by the interim government led by Juan Guaidó. The creditor group chimed in after the Guaidó government offered a different interpretation from an offer earlier this month by the government of President Nicolás Maduro. By Jo Bruni. Full Text -> LatinFinance

Venezuela’s finance minister on Tuesday offered to speak with bondholders about a potential renegotiation of the cash-strapped country’s debt, which economists and financial industry sources said would face challenges due to U.S. sanctions. By Mayela Armas. Full Text-> Reuters

A New York judge won’t disregard a letter from Venezuela’s U.S. ambassador arguing that some $1.68 billion in bonds issued by the country’s state-owned oil company violate Venezuelan law, saying it could be useful as she considers whether to allow the bondholders to seize shares in Citgo’s parent company. Full Text-> Law360

 A London-based fund is offering to buy Venezuelan bonds at heavy discounts, as the government remains in default and U.S. sanctions block some investors from trading the debt, according to three sources and a document seen by Reuters. By Corina Pons. Full text -> Reuters

Little-known bond clause cuts statute of limitations in half.  Provision could give Maduro government leverage in debt talks.By
Ben Bartenstein. Full text -> Bloomberg