(Adds pricing details)
By Davide Scigliuzzo
NEW YORK, June 17 (IFR) - The Republic of Ecuador on Tuesday
raised US$2bn in its first international bond issue since it
voluntarily defaulted on US$3.2bn of foreign debt in 2008.
The sovereign priced the transaction at par to yield 7.95%,
inside official guidance of 8% (plus or minus 12.5bp) and tight
to initial price thoughts of low 8%.
Orders for the issue reached USD4.5bn before the deal was
launched, according to an investor.
Citigroup and Credit Suisse are the joint lead arrangers of
The notes are expected to be rated Single B by both Standard
& Poor's and Fitch.
(Reporting by Davide Scigliuzzo; Editing by Marc Carnegie)