Never Mind the Defaults, Venezuela Has Made Many Bondholders Rich

WALL STREET JOURNAL ASIA | on Wed, Jan 3, 11:59 PM

Venezuela’s bonds have lost about three-quarters of their value, reflecting a dozen missed payments by the government and the state-owned oil company. But many of their bondholders are still feeling flush. A number of investors have made their money back and more, thanks to coupon payments topping 13% and large principal payments that typically...

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