Ecuador May See Bondholder Suit: Barclays

Ecuador May See Bondholder Suit: Barclays

Corporate & Sovereign Strategy

With most of the likely restructuring scenarios for Ecuador’s $4bn in global bonds yielding $20-$30, it appears some bondholders may be considering resorting to legal action, Barclays says in a report. Local news and wire reports emerged Tuesday describing the findings of the Correa government’s debt audit commission – due to be fully released Thursday – characterizing the sovereign’s 2012, 2015 and 2030 bonds and other debt as “illegitimate.” It is not yet clear what type of restructuring optio

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