Ecuador meeting investors ahead of new bond sale

Ecuador could return to the international capital markets with a new US dollar bond sale as soon as next week, as it seeks to plug a widening financing gap in the wake of falling oil prices.

Reuters 09/03/2015

Ecuador could return to the international capital markets with a new US dollar bond sale as soon as next week, as it seeks to plug a widening financing gap in the wake of falling oil prices.

The sovereign, rated B3/B+/B, has hired Citigroup to organize a series of investor meetings in Europe and the US ahead of the potential transaction, three sources familiar with the situation told IFR on Monday.

Ecuador made a landmark return to the international debt markets in June, when it raised US$2bn through a new 10-year bond sale - its first since voluntarily defaulting on its debt in 2008.

This time around, the country is looking to raise US$1bn, one of the sources said.

The roadshow, which began in London on Monday, will continue in Boston on Tuesday, Los Angeles on Wednesday, San Francisco on Thursday and New York on Friday. (Reporting by Davide Scigliuzzo; Editing by Paul Kilby)

Fuente Original