Ecuador prices US$750m tap of 2020 to yield 8.5%
By Paul Kilby
NEW YORK, May 14 (IFR) - The Republic of Ecuador raised US$750m on Thursday through a reopening of its 10.50% 2020 bond.
The tap, rated B+/B by S&P and Fitch, was priced at 107.789 to yield 8.50%, in line with guidance and inside initial price thoughts of high 8s.
The tap brings the total size outstanding on the issue to US$1.5bn. Citigroup acted as sole bookrunner for the 144A/RegS offering. (Reporting by Paul Kilby; Editing by Marc Carnegie)
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