Ecuador Bondholders Look to Unite

Ecuador Bondholders Look to Unite

Corporate & Sovereign Strategy

US Bank National Association and law firm Milbank Tweed hope to get holders of Ecuador’s defaulted 2030 to form an ad-hoc committee, following a conference call March 31. Ecuador is expected to reveal in coming weeks a repurchase proposal for its 2030 and 2012 globals, on which it has stopped making interest payments, alleging that the debt was found to be “illegal” and “immoral.” Lazard is advising Ecuador on the buyback. The sovereign has elected to continue paying on its 2015 global

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