(Bloomberg) -- Venezuelan President Hugo Chavez's
pledge to withdraw from the International Monetary Fund may
violate terms of the country's foreign bonds, allowing investors
to demand their money back.
Pacific Investment Management Co. and Alliance Capital
Management, the biggest holders of Venezuela's debt, would get a
$451 million windfall if the securities are redeemed because
they own bonds that trade below face value, according to data
compiled by Bloomberg. The country has $6.5 billion of notes
that trade at a discount among its $20 billion in foreign bonds.
Read more at Bloomberg Bonds News
pledge to withdraw from the International Monetary Fund may
violate terms of the country's foreign bonds, allowing investors
to demand their money back.
Pacific Investment Management Co. and Alliance Capital
Management, the biggest holders of Venezuela's debt, would get a
$451 million windfall if the securities are redeemed because
they own bonds that trade below face value, according to data
compiled by Bloomberg. The country has $6.5 billion of notes
that trade at a discount among its $20 billion in foreign bonds.
Read more at Bloomberg Bonds News
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