Hedge funds holding Venezuelan sovereign and state oil company debt – including Broad Reach and Winterbrook Capital – have recorded sharp gains after the country’s defaulted bonds surged following the US-led apprehension of President Nicolás Maduro, according to a report by the Financial Times.
Venezuela’s government bonds, which have been in default since 2017, jumped to around 42 cents on the dollar, up from roughly 33 cents prior to the operation, while bonds issued by state oil firm PDVSA al...
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