Aldy_BB Posted October 24, 2019 Am 23.10.2019 um 17:04 von bonded: With Citgo’s Future on the Line, U.S. Prepares 11th-Hour Rescue Bloomberg Ben Bartenstein General Licence 5A Zitat On October 24, 2019, General License 5 was replaced and superseded by General License 5A, which now has a delay in effectiveness until January 22, 2020. Between October 24, 2019 and January 22, 2020 (the date the authorization in General License 5A becomes effective), there is no authorization in effect that licenses against subsection 1(a)(iii) of E.O. 13835 applicable to the holders of the PdVSA 2020 8.5 percent bond. As a result, during such period, transactions related to the sale or transfer of CITGO shares in connection with the PdVSA 2020 8.5 percent bond are prohibited, unless specifically authorized by OFAC. To the extent an agreement may be reached on proposals to restructure or refinance payments due to the holders of the PdVSA 2020 8.5 percent bond, additional licensing requirements may apply. OFAC would encourage parties to apply for a specific license and would have a favorable licensing policy toward such an agreement. [10-24-2019] Share this post Link to post
