Evrofinance bank gets 889 mln rbl in coupon payment from PDVSA

MOSCOW, Nov 28 (PRIME) -- Moscow-based Evrofinance Mosnarbank received an equivalent of 889 billion rubles from Venezuelan state oil company PDVSA in a bond coupon payment, as seen by PRIME in the bank’s materials on Tuesday.

The bank said it noted a “number of negative events” linked with Venezuela and PDVSA in November. As an example, it received a notification of a coupon payment default for Venezuela’s bonds from a clearing organization. Additionally, global rating agencies S&P and Fitch downgraded Venezuela’s sovereign rating to selective default (SD) and restricted default (RD).

However, on November 13, Evrofinance Mosnarbank received money from PDSVA, the materials read. It demonstrates the intention of Venezuela and the company to fulfill their foreign obligations, the bank said.

The International Swaps and Derivatives Association (ISDA) said on November 17 that PDVSA failed to pay coupon for bonds maturing in 2027 timely. On November 24, the company said it started paying interest on two bond tranches maturing in 2020 and 2022.

(58.2773 rubles – U.S. $1)

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