Ecuador Bonds Soar to Record as China Credit Line Renewal Sought
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Ecuador’s dollar bonds surged, sending yields to a record low, after the government said it’s in talks with China to renew a $1.5 billion credit line to help finance next year’s budget.
The South American nation’s dollar bonds due 2024 jumped 2.92 cents to 107.76 cents per dollar at 10:45 a.m. in New York. The yield dropped 40 basis points, or 0.4 percentage point, to 6.85 percent.