June 17, 2014 / 2:40 PM / in 3 years

Ecuador 10-year bond seen initially drawing yield above 8 pct -IFR

June 17 (Reuters) - 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 issue.

Ecuador defaulted in 2008 on $3.2 billion in foreign bonds. (Additional reporting by Alexandra Valencia; Writing by W Simon; Editing by Dan Grebler)

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