Ecuador’s splashy return to global credit markets is being seen as a good portent among investors who are eagerly awaiting Argentina’s own comeback from years of being cut off from international financing.
Ecuador sold US$4 billion of bonds on Monday – its biggest-ever global offering and its first such sale since a debt restructuring in 2020. The deal met with enough demand for the nation to obtain its lowest borrowing costs in years. Moody’s Ratings followed with an upgrade to the country’s credit score, which compressed yields further.
The positive reception was both a vote of confidence for Ecuador, which will use proceeds to repay existing debt, and the latest sign of appetite for high-yield emerging-market credits amid a broad-based rally in the debt.
Continue Reading on Buenos Aires Times
This preview shows approximately 15% of the article. Read the full story on the publisher's website to support quality journalism.