Ecuador plans bond issue, 10 year maturity at 8%

capital.gr reported the Republic of Ecuador is targeting a 10-year maturity and an 8% coupon for its planned U.S. dollar-denominated bond, an investor said Friday.

The country, whose debt is rated Caa1 by Moody’s Investors Service Inc. and B by both Standard & Poor’s Corp. and Fitch Ratings, hosted a series of roadshows in London, Boston, Los Angeles and New York this week and aims to open books on its bond as early as Tuesday in the coming week, the investor said. A transaction would provide a firm test of investors’ appetite for risk, just 5.5 years after the country defaulted on $3.2 billion of foreign debt. Read Article

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