Venezuelan state oil company PdVSA obtained the minimum required participation in its bond swap after… CARACAS, Venezuela—State oil producer Petróleos de Venezuela SA said Monday it has concluded a deal to swap almost $3 billion of upcoming bonds for those with longer maturity, a move that Wall Street analysts say reduces chances of default next year. The company, known as PdVSA, has managed to obtain the minimum required participation at last minute after having to extend the deadline three times, sweeten the terms and reduce the amount of tendered bonds. The company will swap $2.8 billion bonds maturing in 2017, or about 52% of the tendered amount, for $3.4 billion bonds due in 2020, it said in a statement. Prices for PdVSA’S April 2017 bonds edged up 1.3% to 80.55 cents on the dollar at 1 p.m. in New York on Monday. The PdVSA bonds due November 2017 added […]