Venezuelan officials tell investors debt servicing a priority
Venezuelan officials met US bond investors this week, reassuring them that servicing international debt remains a priority, said a source who attended the meeting.
The delegation, led by Finance Minister Rodolfo Marco Torres, addressed accounts at an event in New York organized by Deutsche Bank.
“(They were) very light on details and heavy on reassurances that servicing debt is a priority,” said the source.
Investor questions focused on liability management transactions such as debt buybacks, but Venezuelan officials appeared to offer few details on that front.
“Perhaps the most interesting data point was that allegedly they hold - across different government enterprises - 25% of total debt,” the source said.
Representatives from Pimco, AllianceBernstein, Goldman Sachs Asset Management, Fintech, JP Morgan Investment Management, Discovery, Fidelity, TCW, Wellington, Blackrock, NWI, and Stone Harbor attended the meeting, Torres said on Twitter.