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Browse the latest Venezuela briefings
Sovereign and PDVSA bond watchlist, restructuring milestones, sanctions signals, and recent market news for analysts following Venezuela's defaulted external debt.
| Instrument | Issuer | Type | Public reference | Sanctions note | Signal |
|---|---|---|---|---|---|
|
VENZ 2031
Global 2031
|
Republic of Venezuela | Sovereign Defaulted |
50.25
cents · 2026-03-18
Reuters/LSEG public report
|
Secondary-market trading generally requires sanctions review; terms and counterparties matter. | Rose after U.S. sanctions waivers for PDVSA-related business were announced. |
|
PDVSA 2027
PDVSA 2027
|
Petroleos de Venezuela SA | PDVSA Defaulted |
35.35
cents · 2026-03-18
Reuters/LSEG public report
|
PDVSA securities remain a higher-risk sanctions category; U.S.-person activity needs counsel review. | Gained alongside sovereign issues as restructuring optionality improved. |
|
VENZ 2034
Global 2034
|
Republic of Venezuela | Sovereign Defaulted |
—
2026-05-13
Bloomberg Law public report
|
Defaulted sovereign credit; liquidity and settlement access can be uneven. | Public reporting said the issue reached its highest level since 2014 after the restructuring announcement. |
|
PDVSA 2020
PDVSA 2020 / CITGO-linked claim
|
Petroleos de Venezuela SA | PDVSA/CITGO Litigation-sensitive |
—
2026-01-04
Reuters public explainer
|
The CITGO share pledge and U.S. court process make this a special-case diligence item. | Recovery value depends heavily on CITGO litigation, OFAC licensing, and restructuring priority treatment. |
Public reporting said Venezuela launched an integrated external-debt restructuring process covering sovereign and PDVSA obligations.
Source referenceReuters/LSEG data cited VENZ 2031 at 50.25 cents and PDVSA 2027 at 35.35 cents after a U.S. general license expanded permissible PDVSA-related business.
Source referenceA global investor group said it was ready to begin talks over roughly $60 billion of defaulted bonds.
Source referencePublic Reuters reporting said defaulted government bonds moved toward 40 cents and PDVSA debt toward roughly 30 cents after political change revived restructuring expectations.
Source referenceSovereign and PDVSA debt falls into default, creating the distressed-debt overhang tracked here.
Recent analysis on sanctions relief, PDVSA, creditor talks, and macro conditions that affect bond recovery values.
Venezuela's PDVSA announces debt restructuring to stabilize its energy sector, potentially attracting foreign investment.
Read analysis SANCTIONSVenezuela plans to restructure its $150B external debt under OFAC License 58, aiming for economic stability.
Read analysis ENERGYUS oil firms ramp up operations in Venezuela, hinting at potential shifts in sanctions and diplomatic ties. Investors should watch policy changes.
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