Ecuador has issued bonds on two billion dollars

© RIA Novosti / Natalia to Seliverstova photobacteria in the USA. Archival photoEcuador has issued bonds on two billion dollars© RIA Novosti / Natalia to Seliverstova the image Bank

Ecuadorian authorities have carried out Tuesday’s issue of sovereign bonds for a total amount of 2 billion dollars, reported the Ministry of Finance of the South American country.

According to the Agency, the bonds were issued in two tranches at $ 1 billion each. The first tranche issued with a maturity of six years and an interest rate of 8.75%, the second – for 10 years at 9,625%. The bonds were in great demand in markets of Europe, USA and Asia, the funds will be used by Ecuador for the implementation of the annual investment plan.

Quito has returned to the market of external borrowings in 2014. Up to this point since 2008 Ecuador has not issued securities after the President’s decision to partially suspend payments of interest on the global bonds. Rafael Correa, who was then a post of the head of state, called the debt «immoral.»

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