Weekly Report - 01 October 2020 (WR-20-39)

Venezuela has launched a rescheduling offer for holders of sovereign Venezuelan bonds, as well as those issued by the state oil company Pdvsa and the power company Electricidad de Caracas (EDC). The government led by Nicolás Maduro said it would waive a three-year statute of limitations on the bonds in exchange for a commitment by creditors not to take legal action, or to halt legal action if it had already been commenced. This would then pave the way for wider restructuring talks.

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