Ecuador acquires debt for one billion dollars in bonds, at a 10,75% interest

The Ministry of Finance announced today that Ecuador placed 1,000 billion dollars in sovereign bonds in international markets, an issuance that will finance the budget this year.

The Ministry, in a statement, said that “the bonds were traded with a term expiring in March 2022 and with a coupon of 10.75%.”

“These resources, of immediate disbursement, will serve to finance the State Budget 2016, with regard to the Annual Investment Plan,” said the finance minister.

He explained that the negotiation process of this issuance was made in the US “by the Ministry of Finance, which promoted the supply of bonds to several international investors who confirmed their confidence in the country.”

Source: http://www.larepublica.ec/blog/portada/2016/07/25/ecuador-adquiere-deuda-por-mil-millones-de-dolares-en-bonos-a-1075-de-interes/