January 19, 2018 |
Ecuador has raised $3bn in 2028 paper, taking advantage of a rise in oil prices and positive bond market conditions, DCM sources said.
Credit Suisse, Deutsche Bank and JPMorgan started price talk in the low 8% area and maintained the same level at guidance. With orderbooks in excess of $9bn, leads launched, and later priced the transaction at par to yield 7.875%.
“It is a bigger deal than most people thought, hence [Ecuador] had to leave a bit more on the table," said Edwin Gutierrez, head of
Sovereign issuer shares the spotlight with Brazil, sells $2bn in fresh debt