March 11, 2019 |
Ecuador's Quiport has priced $400m in dollar-denominated bonds, increasing the offer by $50m as investors lapped up the 12% coupon, LatinFinance has heard.
"It has security from landing fees and, at a 1% monthly return, it provides a lot of room to maneuver," said Ray Zucaro, CIO at RVX Asset Management in Miami.
The bookrunners Citi and Santander priced the 2030 notes in line with the initial price talk of 12%, 125bp above Ecuador's latest sovereign bond sale in January.
Ecuadorean airport concessionaire increases offer to $400m to meet investor demand