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Ecuador Plans Exchange, New Bond

Mar 18, 2013

Ecuador plans to launch an exchange offer to holdouts from its 2008 default, clearing the way for a $400m-$500m new bond issue in the coming year, the country’s deputy finance minister Fausto Herrera tells LatinFinance. “We’re going to do a new offer in the first semester of this year to resolve the holdouts,” Herrera says, adding the terms would be “a little more favorable”...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management