Goldman Sachs Bought Venezuela’s State Oil Company’s Bonds Last Week

The New York-based bank’s asset management division last week paid 31 cents on the dollar, or about $865 million, for bonds issued by state oil company Petróleos de Venezuela SA in 2014, which mature in 2022, according to five people familiar with the transaction. The price represents a 31% discount on the trading Venezuelan securities maturing the same year.

the number 31 is mentioned twice in the same paragraph is too much of a coincidence to be correct.
 
2 years ago, yeah, that made sense.....but these guys are running on fumes. They better hope the left is pushed out and things improve.
 
Here4money said:
2 years ago, yeah, that made sense.....but these guys are running on fumes. They better hope the left is pushed out and things improve.
More...
quoting your post as to 2years ago it made sense. I am not sure what kind of fumes you are inhaling. it is now 2years closer for the bonds to mature +the situation in VZ is much worse than 2 years ago. this means there is more upside potential for this investment. I will never forget when GS bought a hotel chain in Thailand during the Asian Crisis. their investment tripled in a few months.

it has nothing to do with hope. GS assessed the situation and came to the conclusion that under the worst circumstances they will lose little if any money and there is chance of a triple payoff in 5 years if the government changes and/or the price of oil goes up. to me it sounds like an ideal investment adjusted for risk.
 
zdreg said:
quoting your post as to 2years ago it made sense. I am not sure what kind of fumes you are inhaling. it is now 2years closer for the bonds to mature +the situation in VZ is much worse than 2 years ago. this means there is more upside potential for this investment. I will never forget when GS bought a hotel chain in Thailand during the Asian Crisis. their investment tripled in a few months.

it has nothing to do with hope. GS assessed the situation and came to the conclusion that under the worst circumstances they will lose little if any money and there is chance of a triple payoff in 5 years if the government changes and/or the price of oil goes up. to me it sounds like an ideal investment adjusted for risk.
More...

I mean the country's running on fumes not GS. How does the country pay its debts if broke? GS are obviously not idiots and the oil will always be there, and I'm pretty sure Venezuelas are fed up w/the left....yeah I guess it could make perfect sense even with crappy rating
https://www.bondsupermart.com/main/bond-info/bond-factsheet/USP7807HAM71
 
You must log in or register to reply here.
Back
Top