Gramercy Loads Up on Venezuela Bonds in Bet Maduro to Fall
The 53-year-old distressed debt veteran says he made a “substantial investment” in its defaulted bonds, mostly in November, betting authoritarian President Nicolas Maduro would finally be forced out of office. Now as the opposition leader strengthens his claim as rightful head of state, Koenigsberger is optimistic the economically ravaged country can tap its vast oil reserves to quickly get back on its feet -- and, crucially, resume payments to creditors. Granted, Koenigsberger concedes bondholders like him must be mindful of pounding the table for money from a country where starvation is commonplace.
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