Ecuador to Announce Restructure Plan

Ecuador to Announce Restructure Plan

Andean

Ecuador's president was on TV over the weekend talking a big discount on a repurchase of sovereign 2012 and 2030 bonds, according to wires. "Our proposal will be basically to try to repurchase that debt, but with a great discount," Correa says, Dow Jones reports. Bondholders were last month expecting a cash transaction in which they are asked to take at least a 70% haircut plus past due coupon and accrued interest. Trustee US Bank and law firm Milbank Tweed were working on getting holders of Ecu

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