Bενεζουέλα – Όσο, όσο ξεπουλάει ομόλογα 5 δισ. δολ.

«Είναι λες και έχουν “ξεπούλημα λόγω κλεισίματος”», σχολίασε ο Russ Dallen, εταίρος στην Caracas Capital Markets, «και αυτό είναι που θα έπρεπε να ανησυχεί τους αγοραστές. Είτε είναι πραγματικά απελπισμένοι, είτε απλά παραγεμίζουν την πιστωτική τους ικανότητα, χωρίς να σχεδιάζουν να αποπληρώσουν».


Wall Street Journal: Venezuela Tries to Resell $5 Billion Bond at Deep Discount

“It’s like they’re having a going-out-of-business sale,” said Russ Dallen, partner at the brokerage Caracas Capital Markets. “And that’s what buyers should be worried about. Either they’re really desperate or they’re just filling up their credit card with no plans of paying back.”



National Public Radio: Maduro Opponents Denounce Goldman Sachs’ Purchase Of Venezuelan Bonds

RUSS DALLEN: They’re starving – the people are starving because there’s no food, and they’re protesting because they want a change of government.

LANE: Russ Dallen is managing partner of the investment bank Caracas Capital Markets. He’s also a foe of the Maduro government. Every day, he watches money flow out of the country’s central bank as it tries to meet the basic needs of its people. But last week, something unusual happened. There were deposits.

DALLEN: There was one for $300 million on the 24; another one for $400-something million on the 25, and that’s when we knew something was strange.

El Mundo: Acusan a Goldman de ahorrarse 390 millones financiando a Maduro

La clave, según ha explicado Russ Dallen, socio y manager de Caracas Capital a este periódico, es que Dinosaur sólo hizo de intermediario, con un dinero que no era suyo -sino de Goldman- para comprar los bonos al banco central de Venezuela, que era quien tenía los bonos. Así, lo que era una venta directa quedaba formalmente como una operación en el mercado secundario.


Frankfurter Allgemeine Zeitung: Blutgeld für den Diktator – Goldman Sachs kauft Anleihen von Venezuela

Goldman Sachs rechtfertigte sich gegen die Kritik in einer Stellungnahme. Der Bank sei bewusst, dass „Venezuela in einer Krise steckt“. Mit dem Geschäft setze Goldman jedoch auf eine künftige „Besserung des Lebens“ in Venezuela. Wenn die Bank das so sehe, „hätte sie die Anleihen auf dem Sekundärmarkt kaufen können, ohne das Geld direkt an Maduro zu geben“, kommentierte der amerikanische Spezialist für Venezuela-Anleihen, Russ Dallen. Stattdessen habe sie „wie ein Pfandverleiher, der weiß, dass er Diebesgut annimmt, 865 Millionen Dollar an ein illegitimes und diktatorisches Regime geliefert“.


Financial Times: Why Goldman’s Venezuela bond trade sparked controversy

The Wall Street Journal named the brokerage as a little-known outfit called Dinosaur Group, too small to have bought the bonds and sold them itself, so it would only have been an intermediary, argues Russ Dallen of Caracas Capital. And the Venezuelan central bank’s reserves rose by $442m to $10.8bn last Thursday, the day the bond trade is reported to have gone through.



Barron’s: Venezuela Gasps On Capitalist Bond Buying – Goldman & Spin

Here’s what Venezuela bond investor and Latin American Herald Tribune publisher Russ Dallen doesn’t mince words on Goldman’s Venezuela bond purchase:

“… full-court press on the issue — the latest leg seems to be looking for Dinosaur SecuritiesJavier Perez-Santalla, who is thought to be the intermediary between the Venezuela Central Bank and Goldman, and wondering just how much the spread was on this transaction. Dinosaur Securities is an extremely small shop and does not have $900 million to buy these bonds. They merely broked [sic] the bonds to Goldman, making Goldman’s statement that they “bought the bonds in the secondary market and did not buy them directly from Venezuela” bull**** technical spin …”

Dallen also is questioning the numbers, based on previous reporting on size of the bond issuance. he adds;

” … if the WSJ is correct and Goldman bought $2.8 billion of the PDVSA 6% of 2022, what does [U.S. investment fund Fintech Advisory] have in repo, because according to the Reuters story last month Fintech got $1.3 billion of the PDVSA 6% of 2022 (at what looked to be a price of 23). The problem is that there are only $3 billion of these bonds — so either at least one of the stories is incorrect, or the Venezuela Central Bank recalled the Fintech repo early, or Venezuela and PDVSA made more than $3 billion of this bond …”


Wall Street Journal: After Goldman Deal, More Bonds Left for Venezuela’s Fire Sale

“Goldman is giving new money to a dictatorial regime that’s killing its own people,” said Russ Dallen, a managing partner at investment bank Caracas Capital Markets in Venezuela.



Barron’s: Russia-Venezuela Citgo Debt ‘National Security Issue,’ Mnuchin Says

It says that if Venezuela defaults, “This could leave Rosneft, a Russian company controlled by oligarchs with close ties to [Russian President] Vladimir Putin, in control of critical energy infrastructure in the United States.” Russ Dallen, an investor in Venezuela bonds and publisher of the Latin American Herald Tribune, has his ear to the ground on this matter, and was the first to publish on the Mnuchin comment.



Wall Street Journal: As Venezuela’s Default Risk Rises, Battle Heats Up for Control of Refiner Citgo

“There are more hands out than there are assets to pay them,” said Russ Dallen, a partner at investment bank Caracas Capital Markets, based in the Venezuelan capital.


“Everyone in the game is a big boy and they know the only way Citgo is worth anything is if it is a going concern,” Mr. Dallen of Caracas Capital Markets said.