Venezuela says pays off 1 billion euro Global 2015 bond

[Judi Lynn]

Venezuela says pays off 1 billion euro Global 2015 bond
Mon Mar 16, 2015 3:23pm EDT

Reuters) - Venezuela has paid off its 1 billion euro Global 2015 bond that came due on Monday, the finance minister said, the first foreign debt maturity in a year of heavy bond payments that have stretched the OPEC nation's coffers amid a period of low oil prices.

Concerns that Venezuela could default on foreign debt have pushed yields to the second highest of any emerging market nation. President Nicolas Maduro has dismissed default talks as a smear campaign against his administration.

"The Bolivarian government honors all of its national and international commitments, always hand in hand with President @NicolasMaduro #VenezuelaMustBeRespected," Finance Minister Rodolfo Marco said via Twitter.

Venezuela also paid 70 million in interest on the bond, Marco added.

Venezuelan bonds pay an average of 30 percentage points more than comparable U.S. Treasuries, second only to war-torn Ukraine, driven by concerns about the decay of its state-led economic model and a steady decline in foreign reserves.

http://www.reuters.com/article/2015/03/16/venezuela-debt-idUSL2N0WI1O820150316?rpc=401&

[COLGATE4]

1. The money line: "The first in a year of heavy bond payments..."nt