*Ecuador’s economy and finance ministry has announced the successful completion of a US$4bn bond sale on the international market, which according to local media was the country’s first bond issuance since 2019. The sale consisted of a US$2.2bn bond maturing in 2034 and a US$1.8bn bond maturing in 2039, with an average coupon rate of 8.975%. In a statement, the economy and finance ministry said that demand for the bonds reached US$18bn, 4.5 times greater than the amount issued, enabling a 62.5 basis point reduction on the initially proposed interest rate. This was described in the statement as the largest such reduction in Ecuador’s history. Economy and Finance Minister
Sariha Moya said that
“under the leadership of President Daniel Noboa, Ecuador is once again being seen as a serious and reliable partner, and this return [to international capital markets] is the start of a transparent and long-term relationship with investors”. The government also announced that it is considering a buyback of Eurobonds which are due to mature in 2030 and 2035.
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