Ecuador Prepares A Bond-Market Return With A Buyback And Investor Roadshow

(MENAFN- The Rio Times) Key Points

• Ecuador is lining up a new dollar bond and a London–New York–Boston roadshow, its first market push since 2019.
  
• A cash tender launched January 16 targets two big post-restructuring bonds, aiming to refinance rather than default.
  
• Officials want a single-digit yield, betting that tighter spreads and an IMF-backed program can reopen doors.
  

Ecuador is trying to re-enter international capital markets with a carefully staged deal that blends new borrowing with debt cleanup. The government has hired BofA Securities and Citigroup to run an investor roadshow in London, New York, and Boston.

Officials present the effort as a credibility test after years of reliance on multilateral funding. The immediate move is a cash tender offer launched on January 16, 2026.

Ecuador is asking holders of two“step-up coupon” bonds to sell them back: notes due 2030 and notes due 2035. The 2030 line has $3,041,124,264 outstanding. The 2035 line has $6,502,790,692 outstanding.



The offer price is set at $1,000 per $1,000 for the 2030 notes and $900 per $1,000 for the 2035 notes. The tender is built to be financed by a new bond sale. The offer is scheduled to expire at 11:00 a.m. New York time on January 23, 2026.
Ecuador Returns to Global Markets
Ecuador plans to publish tender totals on January 26. It expects an acceptance decision on January 27. Settlement is targeted for around January 29. Finance Minister Sariha Moya has described the plan as liability management, not another restructuring.

In local interviews, she said Ecuador is seeking a single-digit interest rate, meaning under 10%. She pointed to a U.S. Treasury yield near 4.4% as a reference point.

The roadshow is set for January 19–23, alongside President Daniel Noboa' s Davos schedule. The IMF has tied the strategy to improving market confidence. In its latest program review, it cited sovereign spreads at 537 basis points on December 2, 2025.

It also noted spreads had narrowed by about 1,300 basis points since the April 2025 elections. In the 2026 state budget framework, Ecuador has contemplated up to $3 billion in bond issuance.

It also expects major 2026 financing needs to lean on external lenders and multilaterals. Online debate on X and Facebook has echoed the government's“return after seven years” message, with mixed views on durability.

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