Connect with us

Hi, what are you looking for?

Ecuador Political News

Ecuador’s US$ 17,4bn debt restructuring plan faces divided bondholders- Merco Press

Ecuador Flag

Ecuador’s government will likely have to sweeten its offer to creditors in order to reach an agreement to restructure US$ 17.4 billion in bonds, say analysts. The government’s proposal already has the backing of one group of creditors, holding around half of the bonds and including AllianceBernstein, Ashmore and BlackRock.

However another group of bondholders have said the terms must be improved, though it declined to say what percentage of creditors it counted among its members.

The government most likely will need to negotiate the terms of the initial offer somewhat to entice the two-thirds aggregate majority of bondholders, or 75% in the case of the 2024 bonds, to accept the proposal, said Tiago Severo, vice president of Latin America economic research at Goldman Sachs.

To read the full article on Merco Press, click here.


You May Also Like

Chevron Ecuador Blog Posts

1. Steven Donziger Is an Adjudicated Racketeer. The U.S. District...

News & Updates

Disbarred lawyer Steven Donziger likes to present himself to the...

News & Updates

A dishonest campaign is underway to rehabilitate disbarred lawyer Steven...

News & Updates

A Dutch appellate court has rejected Ecuador’s attempt to set...