Weekly Report - 26 October 2017 (WR-17-42)

Ecuador’s economy ministry announced this week that it had successfully placed US$2.5bn in sovereign bonds in international capital markets. A ministerial statement said that the 10-year bonds offered a yield of 8.87% and were oversubscribed with demand reaching US$8bn. The ministry pointed out that this is the lowest yield offered by Ecuadorean bonds since the country returned to the international capital markets in 2014 evidencing the confidence that investors now place in the Ecuadorean economy. Highlighting this, the ministerial statement notes that institutional investors from the US, Europe, Asia, and other Latin American countries were among those who purchased the bonds. The ministry added that it had also secured a US$500m loan from Goldman Sachs.

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