By Christine Van Dusen
Atlanta, May 15 – Ecuador priced a $750 million tap of its 10˝% notes due March 24, 2020 (B+/B/) to yield 8˝%, a market source said.
Citigroup was the bookrunner for the Rule 144A and Regulation S deal.
The original $750 million issue priced at par to yield 10˝% on March 19.
Other details of the add-on offering were not immediately available on Friday.
| Issuer: | Ecuador
|
| Amount: | $750 million
|
| Maturity: | March 24, 2020
|
| Description: | Notes
|
| Bookrunner: | Citigroup
|
| Coupon: | 10˝%
|
| Yield: | 8˝%
|
| Trade date: | May 15
|
| Ratings: | Moody’s: B+
|
| Standard & Poor’s: B
|
| Distribution: | Rule 144A and Regulation S
|
| Original issue: | $750 million priced at par on March 19, 2015
|
| Total amount: | $1.5 billion
|
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