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How much are those assets worth? Wouldn't the bonds be worth more if these assets were that substantial?
by fovc 10y ago
How much are those assets worth? Wouldn't the bonds be worth more if these assets were that substantial?
- al_chemist 10y agoAssets are worth more to Venezuela than anyone else is willing to pay. In case of defaulting, creditors can takeover those assets cheaper than they could buy them otherwise.
- slv77 10y agoCitgo was stripped of value last year by issuing bonds to pay a large dividend back to Venezuela. It is now so encumbered with debt that any remaining equity value is nominal. Part of the reason was due to various lawsuits related to assets of US companies that had been nationalized and also to repatriate funds to support government initiatives.