Goldman Sachs Sells Off $300 Million In PDVSA Bonds At A Slim Profit

Goldman Sachs has sold of a portion of the Venezuelan bonds it purchased in May, causing market commotion at the time of the initial $2.8 billion transaction last month. The Wall Street Journal reported on Friday that the banking major sold $300 million worth of bonds to a hedge fund. Anonymous sources said Goldman made a slim profit from the sale, without providing additional details on margins. The entire multi-billion-dollar purchase of state-owned oil giant PDVSA’s bonds costed Goldman 31 cents on the dollar, due to the detrimental effects…
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