Ecuador Misses Coupon, Calls on Bondholders

Ecuador Misses Coupon, Calls on Bondholders

Andean

Ecuador says it will use a 30-day grace period to decide whether or not to pay $135m in coupon payments to service its 10% of 2030 globals. The payment was due Sunday, and the government announced its decision to use the grace period Saturday, according to press reports. Little else was said beyond the fact the government announce its decision once it has come up with an adequate solution to handle its debt, nearly a third of which it has deemed illegitimate. The country also defaulted on a $30.

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