December 9, 2005
Venezuela, which had been expected to buy up to $300 million of Ecuador's 1
Venezuela, which had been expected to buy up to $300 million of Ecuador's 10-year sovereign bond issue, Wednesday, was assigned only $25 million. Ecuador's economy ministry said it had been concerned about selling a large quantity of the issue to a single investor, in case a future sale should hurt the secondary market for the bonds. Ecuador sold a total of $650 million of 10-year bonds, its first offering in the international debt market since it defaulted on its debt in 1999.