Ecuador finds window for 2022 retap

Ecuador finds window for 2022 retap

Ecuador Bonds

Ecuador found room to add another $1bn to its 10.75% 2022 bonds on Tuesday, the first LatAm sovereign to tap the international bond markets since the US Labor Day holiday. Sole bookrunner Citi opened the retap with initial price thoughts of 10.75% yesterday morning, but investor appetite seemed weak after yields held by time of guidance. One fixed income investor said Ecuador seemed "desperate for liquidity" in a bid to pre-fund its 2017 budget. He added that Ecuador's lack of independ

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