Venezuela opposition seeks to pay PDVSA bond interest to stave off creditors

Venezuela opposition seeks to pay PDVSA bond interest to stave off creditors

Venezuela's National Assembly, led by opposition leader Juan Guaido, on Tuesday authorized an interest payment on an overdue bond, in a bid to keep the country's crown jewel overseas asset out of creditor hands. The $71 million interest payment will be paid on state oil company PDVSA's 2020 bond, which is backed by shares in its subsidiary, U.S. refiner Citgo Petroleum.

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