CARACAS: Some bondholders have received late interest payments on Venezuelan state oil company PDVSA's 2017N and 2020 bonds, three market sources said on Friday.
Cash-strapped Venezuela has been late with payments in recent weeks, but holders of some of the world's highest yielding debt, which are close to 10 times higher than those of neighboring Colombia, have so far been tolerant of the delays and largely confident that Caracas will keep trying to pay.
The interests of the 2020 bond began to arrive as of Thursday, two weeks after the grace period ended, the sources said. PDVSA said two weeks ago that it had started the "transfer process" of interest payments on its 2020 and 2022 bonds, worth some $233 million.
The sources said payment of the PDVSA 2017N, due by Dec. 1, had also started to trickle in.
"The pending payment of the PDVSA 2017N arrived today (Friday)," said one market source.
PDVSA did not respond to a request for comment.
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