Chicago, Sept. 30 – Republic of Ecuador priced $2 billion of notes in two tranches, according to a prospectus.
Ecuador sold $600 million of 7 7/8% notes due March 27, 2025.
The second tranche was $1.4 billion of 9½% notes due March 27, 2030.
Citigroup, Deutsche Bank Securities and J.P. Morgan were the initial purchasers and global coordinators for the Rule 144A and Regulation S notes.
Proceeds must be used to finance government programs, for infrastructure projects or for debt refinancing.
| Issuer: | Republic of Ecuador
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| Amount: | $2 billion
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| Bookrunner: | Citigroup, Deutsche Bank Securities and J.P. Morgan
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| Issue date: | Sept. 27
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| Distribution: | Rule 144A and Regulation S
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|
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| Bonds due 2025
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| Amount: | $600 million
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| Maturity: | March 27, 2025
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| Coupon: | 7 7/8%
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| Price: | Par
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| Yield: | 7 7/8%
|
|
|
| Bonds due 2030
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| Amount: | $1.4 billion
|
| Maturity: | March 27, 2030
|
| Coupon: | 9½%
|
| Price: | Par
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| Yield: | 9½%
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