Home / Daily Briefs / 2020 / 17 / CORRECTED: Ecuador sells first social bond

CORRECTED: Ecuador sells first social bond

CORRECTED: Ecuador sells first social bond

January 17, 2020 | Mick Bowen, Jo Bruni
Sovereign issuer funds a housing program with $400 mln in 15-year notes

Bonds Debt Capital Markets Corporate & Sovereign Strategy Economy & Policy Fixed Income Politics Ecuador Andean United States

This article has been corrected to show that Ecuador sold $400 million worth of 15-year bonds with a coupon of 7.25%. The notes were then repackaged by the sole bookrunner, Goldman Sachs, as zero coupon bonds that priced at 65.191 to yield 12.25%. Ecuador became the first sovereign issuer to sell social bonds in the international market on Thursday, pricing $400 million in 7.25% notes at par to raise money for a housing program, sources told LatinFinance. Goldman Sachs, the sole bookrunner, repa

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