March 21, 2019 |
Corporate issuers from Ecuador will likely have to pay high premiums in the cross-border bond market after the airport operator Quiport sold $400m in debt at 12%, LatinFinance has heard.
"This is Ecuador. It is always going to be sovereign-plus, and I would struggle to find too many Ecuadorean corporates who could come to market right now," said a debt capital markets banker in New York. "Maybe there is a bank or two, but that's it."
The coupon on Quiport's 2030 notes was 125bp above the 10.75%
Corporates will likely pay double-digit yields after Quiport sold $400m in bonds at 12%, sources say