May 14, 2010
Ecuador has launched the sale of $1.52bn in new bonds, according to the Qui
Ecuador has launched the sale of $1.52bn in new bonds, according to the Quito and Guayaquil exchanges, on which the transaction is being sold. The government is offering $91.3m in 1-3-year bonds paying 4.0%-4.5%, $959m in 6.5% of 2020 bonds and $465m in 7.0% of 2022 bonds. Ecuador's IESS Social Security Institute is set to buy most of the bonds, according to local press and wire reports. Proceeds will be used to finance infrastructure projects budgeted during 2010-2011.