US extends Citgo relief from bondholder seizure

摘要

The US Treasury Department has extended a prohibition on a potential takeover by bondholders of Venezuelan state-owned PdV’s US refning arm Citgo but has yet to decide whether to allow Chevron and other US companies to continue operating in Venezuela. The Treasury action prolongs Citgo’s insulation from po- tential takeover by holders of a PdV 2020 bond by extending for another three-month period — until 22 July — a prohibition on their right to seize 50.1pc of Citgo for missed principal and interest payments.