Ecuador to see fixed-income investors with Citigroup

Ecuador will kick off fixed-income investor meetings next week through Citigroup, according to sources who received the announcement on Monday. A delegation from the country, including the Finance Minister Fausto Herrera, will visit buyside accounts in London, Boston, Los Angeles, San Francisco and New York between March 29 and April 4. The oil exporter has been struggling to cover its financing gaps this year in the face of political pressures and rock-bottom crude prices.
Ecuador last came to market in May 2015 when it tapped its 2020s for another US $750m at a final yield of 8.50%. The bonds, which pay a coupon of 10.5%, have been trading at a price of 90.75-91.75 or yields of 13.70%-13.22%, according to Thomson Reuters data.