PDVSA's defaulted 2020 bond hits 3-month high on emerging bids for Citgo parent

ReutersAug 15, 2025 1:55 PM

Aug 15 (Reuters) - A defaulted Venezuelan bond hit a three month high of 94 cents on the dollar on Friday as bidders in a court-organized auction of shares in the parent of refiner Citgo Petroleum rushed to tie up a payment agreement with bondholders that can grant them a winning offer.

This is the only one of Venezuela's bonds that trades near par, after the South American country defaulted on its debt in 2017.

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