Ecuador launches US$1bn tap of 2022 bond at 10.75%
NEW YORK, Sept 27 (IFR) - Ecuador launched a US$1bn tap of its 2022 bond at 10.75% as it sought to cover its funding needs for the year, sources told IFR on Tuesday.
Feb 26 Logistics company UTi Worldwide Inc said it had breached some debt covenants and would report a loss for the fourth quarter due to lower demand for air freight and higher costs.
UTi also said it would have to raise about $525 million in additional capital to pay off debt of at least $400 million that could come due in April.
The company estimated a loss of 33-38 cents per share for the fourth quarter ended Jan. 31. ()
Analysts had expected a profit of 6 cents per share, according to Thomson Reuters I/B/E/S.
UTi's shares fell 20 percent in premarket trading on Wednesday.
* Anxiety about Deutsche Bank undercuts post-U.S. debate gains
SANTIAGO, Sept 27 The Chilean government is expected to propose this week one of its tightest budgets in two decades, as low prices for the country's main export copper and a weak economy have weighed on state coffers.