Centerview Wins Venezuela's $150 Billion Debt Role Without Formal Bidding
Updated
Updated · Reuters · May 27
Centerview Wins Venezuela's $150 Billion Debt Role Without Formal Bidding
3 articles · Updated · Reuters · May 27
Summary
Eight sources told Reuters Centerview secured Venezuela's debt-advisory mandate this month without a formal competition, despite the government's pledge of a more transparent restructuring process.
Mauricio Claver-Carone said he vouched for Centerview when asked by Venezuelan and U.S. officials, while Centerview said he had no role in its pitch and no financial relationship with the firm.
Major rivals including Lazard, Rothschild and Alvarez & Marsal were not formally approached, an unusual hiring process for a sovereign restructuring expected to generate tens of millions in fees.
The mandate covers more than $150 billion of debt defaulted on in 2017, with bondholders expecting Venezuela to push for a creditor deal by the end of 2027.
The appointment comes as Venezuela reopens after Maduro's January capture, drawing investors to Caracas even as rule-of-law concerns and U.S. leverage still shape dealmaking.