Markets: Venezuela Venezuela
Venezuela

KEY INDUSTRY VIEWS: VENEZUELA



NEW DEVELOPMENTS

May 6, 2014
Market Practice for PDVSA Bonds 6% Due 11/15/26.  

April 16, 2014
Calculations for Payments on Venezuela Oil Obligations Announced. 

April 8, 2014
Accrual Date Clarified for PDVSA Bonds 6% Due 11/15/26.

March 26, 2014
Warrant Record Date of March 31 and Payment Date of April 15 for Venezuela Oil Obligations. Trades are "Ex-Dividend" on March 27.

March 25, 2014
Fitch Downgrades Venezuela’s Long-term Foreign Currency Issuer Default Rating from B+ to B.

December 13, 2013
Standard & Poor's Downgrades Venezuela’s Long-Term Foreign Currency Sovereign Credit Rating from B to B-.

October 16, 2013
Calculations for Payments on Venezuela Oil Obligations Announced; Record Date of September 30 and Payment Date of October 15. Trades are "Ex-Dividend" on September 26.

September 3, 2013
ICSID Issues Ruling in Conoco Phillips Petrozuata, BV et al vs. Bolivarian Republic of Venezuela.  

June 17, 2013
Standard & Poor's Downgrades Venezuela’s Long-Term Foreign Currency Sovereign Credit Rating from B+ to B.

April 17, 2013
Calculations for Payments on Venezuela Oil Obligations Announced; Effective Record Date of March 29 and Payment Date of April 15. Trades are "Ex-Dividend" on March 27.

April 15, 2013
Nicholas Maduro Narrowly Elected President of Venezuela. Market Reaction from Credit SuisseGoldman Sachs and UBS.

January 16, 2013
EMTA Special Seminar: The Economic and Political Outlook for Venezuela to be Held on February 5, 2013. Click Here to Register

October 19, 2012
Calculations for Payments on Venezuela Oil Obligations Announced.

October 10, 2012
President Chavez Re-elected in Venezuela. Market reaction by Bulltick Capital Markets, Goldman Sachs and UBS.

September 28, 2012
Venezuela Oil Obligations Effective Record Date of September 28 and Payment Date of October 15. Trades are "Ex-Dividend" on September 26.

April 10, 2012
Calculations for Payments on Venezuela Oil Obligations Announced. 

April 2, 2012
Venezuela Oil Obligations Effective Record Date of March 30 and Payment Date of April 16. Trades are "Ex-Dividend" on March 28.

January 27, 2011
Venezuela Withdraws from ICSID (Sullivan & Cromwell Memo).

January 26, 2011
Venezuela Withdraws ICSID Membership. English / Spanish 

October 14, 2011
Venezuela Oil Obligations Record Date of October 3 and Payment Date of October 17. Trades are "Ex-Dividend" on September 29.  Calculations for Payments on Venezuela Oil Obligations Announced.

August 19, 2011
Standard & Poor’s Downgrades Venezuela’s Long-Term Foreign Currency Sovereign Default Rating from BB- to B+.

April 14, 2011
Calculations for Payments on Venezuela Oil Obligations Announced. 

April 13, 2011
Venezuela Oil Obligations Record Date of March 31 and Payment Date of April 15 Expected. Trades are "Ex-Dividend" on March 29. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly.

December 21, 2010
Skye Ventures v. Venezuela.

October 7, 2010
Calculations for Payments on Venezuela Oil Obligations Announced. 

September 28, 2010

Venezuela Oil Obligations Record Date of September 30 and Payment Date of October 15 Expected. Trades are "Ex-Dividend" on September 28. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly.

May 18, 2010

Venezuela Published New Foreign Exchange Regulation (in Spanish). 

April 1, 2010

Calculations for Payments on Venezuela Oil Obligations Announced. 

March 10, 2010

Venezuela Oil Obligations Record Date of March 31 and Payment Date of April 15 Expected. Trades are "Ex-Dividend" on March 29. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly.

October 13, 2009 

Calculations for Payments on Venezuela Oil Obligations Announced. 

September 30, 2009 

"Venezuela: A Good Offense is the Best Offense." Presentation by Ruth de Krivoy, Economic Advisor to Global Source and Former President of the Central Bank of Venezuela. 

Venezuela Oil Obligations Record Date of September 30 and Payment Date of October 15 Expected. Trades are "Ex-Dividend" on September 28. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly. 

April 14, 2009 

Calculations for Payments on Venezuela Oil Obligations Announced.  

March 10, 2009 

Venezuela Oil Obligations Record Date of March 31 and Payment Date of April 15 Expected. Trades are "Ex-Dividend" on March 27. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly. 

December 15, 2008 

Fitch Downgrades Venezuela's Issuer Default Rating from BB- to B+. 

October 10, 2008 

Calculations for Payments on Venezuela Oil Obligations Announced. 

September 23, 2008 

Venezuela Oil Obligations Record Date of September 30 and Payment Date of October 15 Expected. Trades are "Ex-Dividend" on September 26. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly. 

April 9, 2008 

Calculations for Payments on Venezuela Oil Obligations Announced. 

March 24, 2008 

Venezuela Oil Obligations Record Date of March 31 and Payment Date of April 15 Expected. Trades are "Ex-Dividend" on March 27. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly. 

March 20, 2008 

Mobil Cerro Negro v. PDVSA - Reasons for Judgment to Discharge Freeze in the UK. 

March 18, 2008 

Mobil Cerro Negro v. PDVSA - Summary of Order to Discharge Freeze in the UK. 

March 11, 2008 

Mobil Cerro Negro v. PDVSA - Oral Argument in US. 

February 22, 2008 

Mobil Cerro Negro v. PDVSA - SDNY Orders Confirming Attachments and Authorizing Deposit of Funds. 

February 20, 2008 

Moody's Comments on Legal Injunctions Against Petroleos de Venezuela, S.A. 

February 13, 2008 

Mobil Cerro Negro v. PDVSA - US Attachment Orders. 

February 11, 2008 

Standard & Poor's Statement: Petroleos de Venezuela S.A., Venezuela, And Related Issuers Ratings Unaffected By Court Ruling. 

February 8, 2008 

Mobil Cerro Negro v. PDVSA - UK Freeze Order. 

Fitch Ratings Statement: British Court Order to Freeze PDVSA Assets To Have Minimal Near-Term Impact. 

January 10, 2008 

Market Practice Recommendation Regarding the Fungibility of Venezuela Oil Obligations. 

November 20, 2007 

Revised Primers for  Venezuela Oil Obligations  and  Nigeria Payment Adjustment Warrants , and EMTA Advisories Regarding  Venezuela Oil Obligations and Their Related Payments  and  Nigeria Payment Adjustment Warrants and Their Related Payments. 

October 16, 2007 

Calculations for Payments on Venezuela Oil Obligations Announced. 

September 24, 2007 

Venezuela Oil Obligations Record Date of September 28 and Payment Date of October 15 Expected. Trades are "Ex-Dividend" on September 26. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly. 

September 21, 2007 

Ellington v. HSBC. 

September 10, 2007 

Ellington v. HSBC. 

August 3, 2007 

Seguros Caracas de Liberty Mutual v. Goldman Sachs. 

June 7, 2007 

Netting and Offset Facilities Completed for Nigeria and Venezuela Warrants. 

EMTA Summer Forum in London to be Held on June 28, 2007. Details TBA. 

June 6, 2007 

Revised Primers for  Venezuela Oil Obligations  and  Nigeria Payment Adjustment Warrants. 

May 23, 2007 

Seguros Caracas de Liberty Mutual v. Goldman Sachs. 

May 15, 2007 

Moody's Downgrades Cerro Negro - Merrill Lynch Commentary. 

May 14, 2007 

Moody's Downgrades Cerro Negro from B1 to B3. 

May 2, 2007 

Venezuela Statement Regarding IMF and IBRD Membership. 

April 5, 2007 

Calculations for Payments on Venezuela Oil Obligations Announced. 

April 4, 2007 

Venezuela Oil Obligations Record Date of March 30 and Payment Date of April 16 Expected. Trades are "Ex-Dividend" on March 28. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly. 

January 31, 2007 

Market Advisory on the Fungibility of Venezuela Oil Obligations. 

October 25, 2006 

EMTA Advisory Regarding Venezuela Oil Obligations and Their Related Payments. 

October 6, 2006 

Calculations for Payments on Venezuela Oil Obligations Announced. 

August 21, 2006 

EMTA Announces 2Q 2006 Debt Trading Volume Stood at US$1.659 Trillion. 

Venezuela Oil Obligations Record Date of September 29 and Payment Date of October 16 Expected. Trades are "Ex-Dividend" on September 27. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly. 

July 26, 2006 

EMTA Market Practice Recommendation Regarding Venezuela Oil Obligations and Their Related Payments. 

April 13, 2006 

Venezuela to Redeem Par and Discount Series B Bonds - Fiscal Agent Notice. 

April 10, 2006 

Calculations for Payments on Venezuela Oil Obligations Announced. 

March 28, 2006 

Venezuela Oil Obligations Record Date of March 31 and Payment Date of April 17 Expected. Trades are "Ex-Dividend" on March 29. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly. 

March 17, 2006 

Venezuela to Redeem Par and Discount Series A Bonds - Fiscal Agent Notice. 

Calculations for Payments on Mexico VRR's, Series D, Announced and Revised Primer

February 25, 2006 

Venezuela Announces Plans to Retire All Outstanding Par and Discount Bonds. Click Here for Spanish Version. 

February 22, 2006 

Revised Primers for Venezuela Oil Obligations and Nigeria Payment Adjustment Warrants. 

February 15, 2006 

EMTA Announces Its Proposed Multilateral Netting Facility for Venezuela Oil Obligations. 

EM Sovereign Bond Chart for Iraq. 

February 3, 2006 

Standard & Poor's Upgrades Venezuelan Long-Term Rating to BB-. 

October 5, 2005 

Calculations for Payments on Venezuela Oil Obligations Announced. 

September 21, 2005 

EMTA Market Recommendation Regarding Venezuela Oil Obligations. 

September 14, 2005 

Venezuela Oil Obligations Record Date of September 30 and Payment Date of October 17 Expected. Trades are "Ex-Dividend" on September 28. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly. 

August 12, 2005 

Standard & Poor's Raises Long-Term Foreign Currency Rating on Venezuela at B+. 

June 17, 2005 

EMTA Market Recommendation Regarding Venezuela Oil Obligations and Revised Primer.  

April 4, 2005 

Calculations for Payments on Venezuela Oil Obligations Announced. 

February 28, 2005 

Calculations for Payments on Venezuela Oil Obligations Announced. 

February 18, 2005 

Venezuela Announces Oil Payment. 

January 27, 2005 

Statement from Venezuelan Finance Ministry on Oil Obligations. 

January 24, 2005 

Commentary from CFSB on Venezuela Oil Obligations. 

January 20, 2005 

Commentary from JP Morgan on Venezuela Oil Obligations. 

January 19, 2005 

Statement from Venezuelan Finance Ministry and Associated Press on Paying Oil Obligations. 

January 18, 2005 

Standard & Poor’s Lowers Venezuela’s Long- and Short-Term Foreign Currency Ratings to ‘SD’ from ‘B’. 

Excerpts from Venezuela Oil Obligation Certificate, Venezuela Discount and Par Bonds and Fiscal Agency Agreement. 

EMTA's Primer on the Oil Obligations. 

December 2, 2004 

Presentation by Tobias Nobrega, Minister of Finance of the Bolivarian Republic of Venezuela, at the EMTA Annual Meeting. 

Minister Nobrega Announces VEB Devaluation at EMTA Annual Meeting - Commentary from Luis Oganes (J.P. Morgan). 

EMTA Annual Meeting Buy Side Panel - "Switch to the Local" by James Crombie, IFR. 

EMTA Annual Meeting Sell Side Panel - Market Views on Key Variables for 2005. 

EMTA Annual Meeting Handouts: Biography of Tobias Nobrega, Minister of Finance of the Bolivarian Republic of Venezuela, Investor Panelist Biographies, Sell Side Panelist Biographies, Meeting Agenda. 

November 8, 2004 

EM Sovereign Bond Chart for Venezuela. 

October 6, 2004 

Mendoza Province of Argentina Responds to Legal Action. 

Notice from the Fiscal Agent Regarding Delay in Venezuela Warrant Calculation. 

September 8, 2004 

EMCC Notice Regarding Exiting of Failed Warrant Transactions. 

September 19, 2003 

EM Sovereign Bond Documentation Chart for Venezuela. 

July 30, 2003 

Venezuela BuyBack of Brady Bonds. 

May 21, 2003 

EMTA Issues New NDF Market Practice for VEB/USD Non-Deliverable FX and Currency Option Transactions. 

February 6, 2003 

The Gaceta Oficial de la Republica Bolivariana de Venezuela Dated February 5, 2003 Publishes New Regulations Establishing a New Foreign Exchange Regime in Venezuela Centralizing the Buying and Selling of Foreign Exchange with the Banco Central de Venezuela, Fixing an Official VEB/USD Exchange Rate and Establishing a New Administration (CADIVI) to Administer the New Regime and to Issue Implementing Regulations. 

January 28, 2003 

EMTA Issues New VEB NDF Market Practice. 

December 3, 2001 

New Venezuela Market Practices for the Separate Trading of USD Discount and Par Bonds and their Related Oil Obligations, Together with a Revised Primer. 

November 15, 2001 

Primer on Venezuela Oil-Indexed Payment Obligations. 

Citibank Distributing Late Nigeria Warrant Payment Today. 

10:30 A.M.
December 5, 2000 

Venezuela Affirms Interest Payment Made on Par Bonds; Euroclear Confirms Receipt. Delay Due Solely to Technical Glitch. For Further Information, Contact Fiscal/Paying Agent at (212) 946-3013/3026. 

September 27, 1996 

Market Practice for trades of Brady bonds with related Rights or Warrants.