But bond prices maintained last week’s rally, with one investor saying there was relief the meeting did not include a default announcement.
“There was no offer, no terms, no strategy, nothing,” said one bondholder, leaving the meeting that lasted a little over half an hour at the ‘White Palace’, opposite Maduro’s office in downtown Caracas.
“It was a missed opportunity,” said another participant, also departing with a colorful gift-bag made out of recycled materials and containing Venezuelan chocolates and coffee.
The investors had entered via a red carpet and were greeted by a poster of Maduro’s predecessor Hugo Chavez at the entrance of the meeting room inside, witnesses said.
About 100 investors, including some bondholders from New York, and lawyers representing creditors, had arrived.
Chief debt negotiators Vice President Tareck El Aissami and Economy Minister Simon Zerpa – on U.S. sanctions lists for drug and corruption charges respectively – attended for half an hour.
They met with some bondholders, while others stayed out of the room, witnesses said, as they were concerned about the consequences of meeting them. The U.S. has warned bondholders that they could face stiff penalties if they deal with sanctioned officials.
