Ecuador Holders Snub Buyback Offer

Ecuador Holders Snub Buyback Offer

Andean

Creditors holding at least 25% of Ecuador’s 2012 bonds have rejected the government’s recently announced buyback offer, according to Analytica Securities, and gave notice of acceleration of payments. The government was notified of the holders’ decision by the trustee, the National Association of Banks, the shop says in a report. Finance Minister Maria Elsa Viteri is scheduled to hold a conference call with 2012 and 2030 bondholders Tuesday. The holders’ move might be a tactic to bring more negot

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