Ecuador Internacional
Oil slide forces Ecuador to pay up on latest bond sale
Reuters 19/03/2015
A recent slide in crude prices is forcing Ecuador to pay up as the oil-exporter brings to market a new international bond issue in an effort to plug a budget shortfall.
Hurt by a 13% slide in oil prices since it began marketing the new sale earlier this month, the Andean nation has been forced to target a shorter maturity and a higher yield than originally expected.
"Oil prices are driving things wider and their existing bonds have sold off significantly," said a US-based investor evaluating the sale.
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