PDVSA begins transfer for the payment of principal and interest on 2017 bond
Thursday, 02 November 2017
Caracas.- President of the Republic, Nicolás Maduro, instructed Petróleos de Venezuela, S.A. (PDVSA) to begin transfers to the JP Morgan bank for the payment of principal and interest on the PDVSA 2017 Bond, as PDVSA continues to meet its schedule of financial obligations.
"I have ordered the payment of USD 1.121 billion; I have the money to pay for this obligation. Venezuela has fulfilled its international commitments”, he said at a mass event in Caracas.
Almost 4 years into his term in office USD 71.7 billion have been paid for the principal and interest on debt commitments. In this same period, Venezuela stopped receiving more than USD 100 billion due to the fall in oil prices, he said.
He announced the creation of a Presidential Commission, headed by Vice President of the Republic, Tareck El Aissami, for the refinancing and restructuring of foreign debt, together with the international investor community.
Despite reduced revenues caused by a drop in oil prices, the impact of the economic war and the unilateral sanctions and financial blockade imposed by the Donald Trump government on the Bolivarian Republic of Venezuela and its institutions, PDVSA fully complies with its securities obligations based on its solid operational and financial capacity.
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