Re: Venezuela
There are two 2017
Sent from my iPad
On Oct 9, 2012, at 4:34 PM, "Barrett, Paul S" < wrote:
Hi Jeffrey
Given that we expected a Chavez win, I am a little surprised that the bonds are trading down 3 points (around 4%). There has been some noise out of Argentina where a local province repaid a coupon on a bond in ARS when it should be in USD. So this is putting pressure on the region.
I think this is an interesting level to buy the PDVSA 2017 bond. Currently yielding 12.20%. Passive play on oil.
Would do $1.5MM.
Let me know
Paul
Paul Barrett, CFA
Managing Director
EFTA00876640
Global Investment Opportunities Group
JPMorgan Private Bank
320 Park Avenue, 14th Floor, New York, NY 10022
NMLS ID# 853441
ok start on a?
On Tue, Oct 9, 2012 at 9:22 PM, Barrett, Paul S <> wrote:
Correct
Both NY law.
a) The 2017N issued bond; 8.50% coupon; sinking fund (payable over 2015, 2016, 2017); $6BLN issue size; 12.30%
yield
b) The other one has a coupon of 5.25% matures Apr 2017. $3.5BiN issue size; 12.00%
We like (a)
Paul Barrett, CFA
Managing Director
Global Investment Opportunities Group
JPMorgan Private Bank
320 Park Avenue, 14th Floor, New York, NY 10022
EFTA00876639
212-622-2770 (W)
212-310-0108 (F)
NMLS ID# 853441