December 9, 2016 |
Ecuador made a surprise return to the cross-border bond market yesterday, catching investors and bankers by surprise with a $750m 2026 bond sale. Markets were thought to be closed until the January window, particularly after Donald Trump's US presidential election victory last month, according to one fixed income investor. But Mexican state-owned energy company Pemex bucked that trend earlier this week with a $5.5bn bond sale, potentially paving a path for an oil exporter like Ecuador.
South American sovereign raises $750m in its third visit to the bond market this year