10-07-2025
- Business
- Wall Street Journal
Venezuela's Disputed Bond Complicates Citgo Sale
Bondholders are moving to block the forced sale of Venezuela's Citgo Petroleum, setting up a clash with some of the country's other creditors over control of its most valuable external asset.
A group of bondholders owed some $1.7 billion by Citgo's ultimate parent company, Petróleos de Venezuela SA, has been excluded from the latest offer for the company. The group, referred to as the 2020 bondholders, had agreed to a deal in April with Citgo's previous leading bidder, Contrarian Capital-backed Red Tree Investments.
