By Paul A. Harris
Portland, Ore., Dec. 8 – Republic of Ecuador priced a $750 million issue of 10-year senior notes (B/B) at par to yield 9.65% on Thursday, according to a market source.
The deal came into the market earlier in the day with initial price talk of 10¼%.
Citigroup was the bookrunner.
The government’s financing authority plans to use the proceeds in accordance with the public planning and finance code.
| Issuer: | Republic of Ecuador
|
| Amount: | $750 million
|
| Maturity: | Dec. 13, 2026
|
| Securities: | Senior notes
|
| Bookrunner: | Citigroup
|
| Coupon: | 9.65%
|
| Price: | Par
|
| Yield: | 9.65%
|
| Trade date: | Dec. 8
|
| Settlement date: | Dec. 13
|
| Ratings: | S&P: B
|
| Fitch: B
|
| Distribution: | Rule 144A and Regulation S
|
| Initial price talk: | 10¼%
|
| Marketing: | Quick to market
|
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