June 17 Lead bank managers have begun to take
orders on a 10-year dollar-denominated bond from Ecuador in the
Andean nation's first international offering since a debt
default six years ago.
The country is offering an initial yield of "low 8"
percent, IFR reported from London. It added that the bond issue
was led by Citi and Credit Suisse.
Customarily, bankers refine initial price guidance on bonds
as order books grow.
In Quito, the Ecuadorian Finance Ministry did not
immediately respond to a request for comment.
No details were immediately available on the size of the
Ecuador defaulted in 2008 on $3.2 billion in foreign bonds.
(Additional reporting by Alexandra Valencia; Writing by W
Simon; Editing by Dan Grebler)