Ecuador offers pick-up to curve on social bond repack

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Ecuador offers pick-up to curve on social bond repack

Guayaquil, Ecuador, oil, LatAm
Under construction breakwater located at Puerto Santa Ana in Guayaquil, Ecuador | Daniel Ferreira-Leites Ciccarino/danflcreativo - stock.adobe.com

Ecuador raised $400m of funding for social housing at a lower cost than its conventional curve thanks to an innovative tranched structure that also offered junior bondholders the chance to gain some extra pick-up with exposure to one of the highest paying sovereigns in Latin America.

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