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NEW YORK, July 25 (IFR) - The Republic of Ecuador set guidance of 10.75% area (+/- 1/8) on a long five-year US dollar bond ahead of pricing later on Monday, according to two buyside sources.
Guidance is coming tight to initial price thoughts of 11% area, with one investor noting that order books have reached US$2bn.
Ratings are expected to be B/B on the 144a/Reg S bond, which matures in March 2022. (Reporting by Paul Kilby; Editing by Marc Carnegie)