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Dec

08

Jump in Oil Prices Makes Lending Ecuador $750 Million a Bit More Appealing

By Tony Seruga

B-rated credit said to sell 10-year bonds to yield 9.65%
New issue comes two days after Pemex raised $5.5 billion

Oil’s bounce past $50 a barrel is giving life to some beaten-up borrowers.

Ecuador, OPEC’s smallest member, sold $750 million of 10-year bonds to yield 9.65 percent, two days after Mexico’s state oil company saw more than $30 billion of bids for the $5.5 billion of notes it was selling. The demand shows investors warming up to the credits as oil recovers amid producer pledges to curb output…

Jump in Oil Prices Makes Lending Ecuador $750 Million a Bit More Appealing

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