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PDVSA Notes Rally After Venezuela Makes Good on $2.2 Billion Debt Paymen

Bonds issued by Venezuela’s state oil company rallied after the country made $2.2 billion in payments on notes that matured Wednesday.

The $1.1 billion of notes from Petroleos de Venezuela that come due in seven months gained 2.1 cents to 87.3 cents on the dollar as of 3:17 p.m. in New York. The payment, which was confirmed by Delaware Trust Company, strengthened investor confidence that the nation can avoid default for yet another year.

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