Citgo obtains $1,200 million loan to continue operations
The Venezuelan oil company, which is controlled by Juan Guaidó, was supported by at least 35 financial institutions
The Citgo company received a $ 1.2 billion financing this week so they can continue with their commercial operations.
At least 35 financial institutions participated in this transaction, which supported it with a refinancing of commitments that had as expiration date the months of May and July of this year.
“The significant interest in our debt offer reflects the underlying strength of our company: operational, financial and in terms of our leadership,” said Executive Vice President Rick Esser.
This loan has a term of five years. This will allow the company to stand up after the sanctions imposed by the Donald Trump government on PDVSA.
The USA granted Citgo a license to continue its business activity, despite the sanctions against its parent company, which can not deliver dividends since 2017 and which was its main supplier of crude oil.
The interim president of Venezuela, Juan Guaidó, appointed a new directive for Citgo months ago in order to begin the recovery of the oil company.
K. Tovar
Source: El Carabobeño
