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  • Tuesday, July 29 2014

    VENZ 8 1/2 14 100.000-100.350
    VENZ 5 3/4 16 95.000-95.500
    VENZ 13 5/8 18 107.750-108.750
    VENZ 7 18 86.250-86.750

    VENZ 7 3/4 19 85.750-86.250
    VENZ 6 20 76.200-76.700
    VENZ 12 3/4 22 102.750-103.250
    VENZ 9 23 85.200-85.700
    VENZ 8 1/4 24 79.700-80.200
    VENZ 7.65 25 76.750-77.250
    VENZ 11 3/4 26 96.250-96.750
    VENZ 9 1/4 27 85.850-86.350
    VENZ 9 1/4 28 83.250-83.750
    VENZ 11.95 31 96.600-97.100
    VENZ 9 3/8 34 83.000-83.500
    VENZ 7 38 69.500-70.000

    PDVSA 4.9 14 99.750-100.050
    PDVSA 5 15 94.250-94.7

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  • Monday, July 28 2014

    VENZ 8 1/2 14 99.850-100.600
    VENZ 5 3/4 16 95.000-95.750

    VENZ 13 5/8 18 108.250-110.250
    VENZ 7 18 86.500-87.250
    VENZ 7 3/4 19 85.500-86.250
    VENZ 6 20 76.500-77.250
    VENZ 12 3/4 22 102.750-103.500
    VENZ 9 23 85.250-86.000
    VENZ 8 1/4 24 80.000-80.750
    VENZ 7.65 25 77.000-77.750
    VENZ 11 3/4 26 96.750-97.500
    VENZ 9 1/4 27 86.250-87.000
    VENZ 9 1/4 28 83.500-84.250
    VENZ 11.95 31 96.750-97.500

    VENZ 9 3/8 34 84.000-84.750
    VENZ 7 38 70.000-70.750
    PDVSA 4.9 14 99.750-100.150
    PDVSA 5 15 94.500-95.25

    Read More >>
  • Monday, July 28 2014

    VENZ 8 1/2 14 100.250-100.500
    VENZ 5 3/4 16 95.250-95.750
    VENZ 13 5/8 18 108.250-109.250
    VENZ 7 18 86.500-87.250
    VENZ 7 3/4 19 85.850-86.500
    VENZ 6 20 76.500-77.250

    VENZ 12 3/4 22 102.750-103.400
    VENZ 9 23 85.750-86.400
    VENZ 8 1/4 24 80.500-81.250
    VENZ 7.65 25 77.000-77.750
    VENZ 11 3/4 26 97.000-97.700
    VENZ 9 1/4 27 86.100-86.900
    VENZ 9 1/4 28 83.250-84.000
    VENZ 11.95 31 96.650-97.250
    VENZ 9 3/8 34 83.750-84.500
    VENZ 7 38 69.750-70.500
    PDVSA 4.9 14 99.750-100.100
    PDVSA 5 15 94.500-95.25

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  • Wednesday, July 23 2014

    VENZ 8 1/2 14 100.300-100.750
    VENZ 5 3/4 16 95.500-96.250
    VENZ 13 5/8 18 109.000-111.000
    VENZ 7 18 87.250-88.000
    VENZ 7 3/4 19 87.000-87.750
    VENZ 6 20 77.250-78.000
    VENZ 12 3/4 22 104.000-104.750

    VENZ 9 23 86.750-87.500
    VENZ 8 1/4 24 81.750-82.500
    VENZ 7.65 25 78.250-79.000
    VENZ 11 3/4 26 98.250-99.000
    VENZ 9 1/4 27 87.750-88.500
    VENZ 9 1/4 28 85.250-86.000
    VENZ 11.95 31 98.500-99.250
    VENZ 9 3/8 34 85.000-85.750
    VENZ 7 38 71.250-72.000
    PDVSA 4.9 14 99.750-100.250
    PDVSA 5 15 94.700-95.50

    Read More >>
  • Tuesday, July 29 2014
    Venezuela: 

    - Citgo (PDVSA subsidiary in the US) profits decreased 63% from USD461 million to USD170 million in 1Q14, in a y-o-y basis. A diminish on revenues of USD1.2bn caused the profits reduction, due to a constrain on sales of 7%. According to local media, 3 major investment banks offered to buy Citgo. PDVSA may accept to sell its off-shore company to enhance its cash flow and prevent future embargos from litigation against the Venezuelan oil giant.  

    - IATA requested a meeting with the government to claim once again the payment of the USD4.1bn debt with airlin
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  • Monday, July 28 2014
    Venezuela: 

    - General Hugo Carvajal was liberated from his imprisonment in Aruba. The decision was taken by the Dutch government, due to the confirmation of Carvajal's diplomatic immunity, despite the charges against him for illegal drugs trafficking.

    - According to Fedecamaras, in the last 3 weeks the government allocated USD2.5bn to the private sector. This represents a positive step in the road of reducing the high levels of scarcity. Medicines and food were the most benefited sectors. 

    Argentina: - After 2 days in a row of negotiations with no furt

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  • Friday, July 25 2014
    Venezuela: 

    - Economy Vice-president, Rafael Ramirez, will make a roadshow with investment banks in New York City in the next days. The objective is to seek more financing for the development projects of the government, according to President Nicolas Maduro. 

    - General Hugo Carvajal was imprisoned in Aruba under the charges of illegal drugs trafficking with the Revolutionary Armed Foreces of Colombia (FARC). In 2008 the US issued an arrest warrant on Carvajal, reason why Dutch security forces detained him. He is to be trialed in the US, and may reveal many of the ill
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  • Wednesday, July 23 2014
    Venezuela: 

    - Socialist Communes Councils will be able to receive greenbacks to import goods through ministries. Authorities discarded the need of a special currency auction (Sicad I).

    - Medicines scarcity may reach 60% according to the Farmaceutical Federation. The situation will not get better, unless the government pays USD348 million due to foreign suppliers.

    Argentina: 

    - Judge Thomas Griesa denied to restablish the stay on the defaulted debt and asked Argentina to give the necessary steps to avoid a new default. We now see the possibility of a sele

    Read More >>

BancTrust & Co. is a boutique investment bank dedicated to Latin America and specialized in High Beta LatAm Credit Markets; mainly Venezuela, Argentina, and Dominican Republic.

The firm operates through various entities located across The Americas and Europe. As a group of companies, we facilitate global market transactions to a diverse client base that includes corporate treasuries, financial institutions, asset managers, and governments and its entities.

  • Venezuela weekly report

    A day late and a dollar short

    August 1 2014 Hernan Yellati - Guillermo Quiroga

    It felt like a socialist Hollywood red carpet for Rafael Ramirez. In an interpellation á la National Assembly, he took step by step his proposals – with caution - until reaching the sensitive ones: 1) FX rates unification and, 2) Gasoline subsidy lifting. What was the result? Ramirez got a standing applause and support outcries and declarations in the last days of the III PSUV Congress. Read more

  • Argentina weekly report

    Prisoners’ dilemma

    July 25 2014 Hernan Yellati

    Judge Griesa refused to reinstate the stay on his original ruling and mandated that Argentina and holdouts meet 24/7 to negotiate a compensation agreement. As we suggested the previous week, unless holdouts themselves asked Griesa for the stay, it was unlikely the judge would make this move in the absence of concrete progress in negotiations. Read more

  • Quantitative Reports

    High Beta Quantitative Chartbook Weekly Report

    April 23 2013 Hernán Yellati

    In Argentina, Par´38 continues to be cheap with a pick-up of 50bp. Also, we still see opportunity in moving to global´17 from Bonar ´17 with a potential of 220bp according to our rich/cheap model. Read more

  • El gobierno no saldrá ileso

    El gobierno no saldrá ileso

    July 25 2014

    julio 25, 2014 | 4:03 pmECONOMÍA | Crisis dentro del chavismo podría generar un escenario económico más difícil que el actualEl Read more