JULY/ AUGUST 2014 FRONT NOTES: Meeting the market

Jul 1, 2014

The timing of Ecuador’s return to the Eurobond markets in June was not without its irony. The deal came just a day after the US Supreme Court threw out an appeal against a lower-court ruling that Argentina should pay its holdout creditors in full, almost ten years after the sovereign’s $62.03 billion debt restructuring. The ruling raised the prospect of a fresh default. But Ecuador’s Eurobond — its first since its own $3.2 billion default in 2008 — served as a reminder that Argentina could nevertheless, in time, be afforded renewed access...

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