đ Gold Reserve Agrees to Pay $5M in Bank Fees Linked to PDV Holdings Loan
Gold Reserve Ltd. has agreed to settle about $5 million in commitment fees with banks tied to the loan facility it used to bid for PDV Holdings shares, as part of its ongoing efforts to recover Venezuelan assets â including interests tied to Citgo.
Key Facts:
âą The payment covers commitment fees owed to banks that supported the loan used for its PDV Holdings bid.
âą Gold Reserve is also reviewing and enhancing security plans for a potential safe return to operations in Venezuela following political changes.
âą The move comes amid ongoing legal and operational developments related to Citgo sale proceedings and appeals connected to Venezuelan asset recovery.
Expert Insight:
Settling the bank fees helps maintain financial and partner relationships as Gold Reserve pursues long-running claims tied to Venezuelaâs nationalized assets. It signals continued strategic positioning ahead of possible negotiations or legal resolutions in asset recovery.
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