June 20, 2019 |
Ecuador said it has concluded a bond buyback, agreeing to repurchase $1.18bn in 10.5% 2020 notes, or 86.7% of the outstanding amount.
Bondholders tendered $1.4bn in 2020s, or 93.3% of the $1.5bn in outstanding notes, looking to receive $1,060 for every $1,000 in bonds, Ecuador said in a press release.
Ecuador last week added $1.13bn to its 2029 notes to pay for the buyback. The bookrunners Citi, Deutsche Bank and JPMorgan priced the reopening to yield 9.05%, down from the 10.75% that Ecuador p
Sovereign issuer agrees to repurchase $1.2bn in 2020 bonds after investors tender 93% of the outstanding notes