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Share Name | Share Symbol | Market | Type |
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Credit Suisse Group | NYSE:CS | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0.8858 | 0 | 01:00:00 |
By Josie Cox
The Republic of Ecuador is targeting a 10-year maturity and an 8% coupon for its planned U.S. dollar-denominated bond, an investor said Friday.
The country, whose debt is rated Caa1 by Moody's Investors Service Inc. and B by both Standard & Poor's Corp. and Fitch Ratings, hosted a series of roadshows in London, Boston, Los Angeles and New York this week and aims to open books on its bond as early as Tuesday in the coming week, the investor said.
A transaction would provide a firm test of investors' appetite for risk, just 5.5 years after the country defaulted on $3.2 billion of foreign debt.
Credit Suisse Group AG and Citigroup Inc. have been mandated to run the transaction.
The possibility of the country tapping global investors for funding was flagged in April. Then, the country's president said around $700 million of U.S. dollar bonds could be issued this year. Ecuadorean officials have spoken at various times over the past three years about a possible debt issue.
Write to Josie Cox at josie.cox@wsj.com
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