Bloomberg - Altana’s Robinson Sees Chance of Venezuela’s Bonds Doubling

By Nishant Kumar

The implied recovery on Venezuelan government bonds still has plenty of room to run according to Lee Robinson, founder of Altana Wealth, a money manager that made an early bet on the country’s debt.

While prices have more than doubled over the last year, with the country’s dollar bonds due in 2027 indicated at more than 40 cents on Thursday, the final recovery once unpaid interest is included could end up roughly doubling again.

“There is downside but there is just a lot more material upside,” Robinson told Bloomberg Television’s Anna Edwards, Tom Mackenzie and Guy Johnson in an interview Thursday (8 January). “Trump has made it very clear, oil is going to flow to the US. Billions, in fact trillions of dollars are going to be made by US companies, so this is a country that can in fact repay its debt.”

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