A coalition of creditors holding claims against Venezuela’s state-owned oil company, PDVSA, is evaluating the hiring of a financial adviser to support debt restructuring discussions. The move comes as the country seeks to restructure over $15 billion in outstanding sovereign debt.
- Creditors holding claims against PDVSA are considering hiring a financial adviser to guide debt restructuring talks.
- Total outstanding debt from PDVSA and Venezuelan sovereign obligations exceeds $15 billion.
- Key bond issues include $6.5 billion in Eurobonds from 2020 and 2021.
- Creditor groups are based in the U.S., U.K., and Netherlands, with active legal claims and asset seizures.
- A restructuring framework is targeted for development by mid-2026.
- Successful outcome could restore Venezuela’s access to international capital markets.
A group of creditors representing claims on Venezuela’s state-owned oil firm PDVSA is considering the appointment of a specialized financial adviser to guide negotiations on a comprehensive debt restructuring plan. The effort marks a pivotal step in ongoing attempts to resolve a complex web of defaulted obligations, including $6.5 billion in bonds issued under PDVSA’s 2020 and 2021 Eurobond programs, and an additional $9 billion in claims from other sovereign and corporate debt instruments. The creditors’ collective interest spans multiple jurisdictions, including the United States, the United Kingdom, and the Netherlands, where legal actions and asset seizures have been pursued in recent years. The decision to engage a financial adviser reflects growing momentum toward a coordinated restructuring strategy, particularly as Venezuela’s government has signaled openness to dialogue with international lenders. The proposed adviser would be tasked with assessing the viability of various restructuring options, including debt-for-equity swaps, extended payment schedules, and partial debt write-downs, with a focus on ensuring equitable treatment among creditors. The timeline for a formal agreement remains uncertain, but stakeholders are working toward a framework by mid-2026. Market analysts note that a successful resolution could unlock access to international capital markets for Venezuela, which has been largely excluded since 2014. However, delays or disagreements among creditor groups could prolong the country’s financial isolation and deepen economic instability. The involvement of a neutral financial expert may help build trust and transparency, particularly given the high stakes and legal complexities involved in claims valuation and enforcement.