Venezuela taps Centerview, faces Lazard bid in $150‑billion debt overhaul

Venezuela has launched a restructuring of more than $150 billion in sovereign debt owed by the government and state oil company PDVSA. The interim government appointed boutique investment bank Centerview Partners as lead financial adviser, with a draft contract indicating a fee of about $150 million if the deal succeeds.

U.S. investment bank Lazard submitted a late proposal to replace Centerview, offering a fee of $25 million—far less than Centerview’s negotiated $150‑$200 million. The bid was sent to interim President Delcy Rodríguez and cited a desire for a lower‑cost adviser.

Analysts say the restructuring is critical for Venezuela’s economic recovery, as bond prices have roughly doubled since the start of the year, and a successful deal could unlock fresh investment after years of default and sanctions.