Venezuela debts
CARACAS/LONDON/BOSTON: Venezuela has settled debts with at least three global drug companies by giving them bonds that trade at a heavy discount, a further sign of the OPEC nation’s worsening financial crisis. Novartis AG, Bayer AG and Sanofi SA acquired dollar-denominated bonds from state-owned oil company PDVSA that they resold for as little as a third of their face value, as per an analysis of regulatory filings.