Carib da FOL:
According to Citi's latest report on Venz/PDVSA, default/restructuring will happen in August 2019 (one year after the default of Venz 13.625% 08/15/18 payment). They estimate that both PDVSA and Venz will default at the same time more or less...
Estimated recovery value on PDVSA of 53% (45% on bonds + 8% in oil warrants)...Estimated recovery on Venz of 58% (49% on bonds + 9% in oil warrants).
...fosse cosi' credo andrebbe pure bene a parecchi bondholders
...ma non poniamo limiti alla provvidenza