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

  • 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.