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Take physic, pomp
12 / 11 / 08

Ecuador bonds: the build up to Saturday

The professional arm-wrestling circuit reaches Paraguay

Here we go with the rumour-mill that presages Saturday’s big final announcement from Studmuffin on whether Ecuador is going to pay the nasty coupon on their nasty illegal debt.

This morning El Comercio reported that Ecuador has bought back $680m of its own bonds, its source being….errr…..someone. The idea is that the bonds are dirt cheap right now and they can retire their own debt for relative peanuts. This was one of the original conspiracy theories about the whole thing, if you can remember back that far. Here’s Bloomie on the story:


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Ecuador Bought Back $680 Million of Bonds, El Comercio Reports

By Stephan Kueffner

Dec. 11 (Bloomberg) — Ecuador has bought back $680 million of its debt through a state-owned bank, Quito-based newspaper El Comercio reported, without identifying the source of the information.

State-owned Banco del Pacifico managed the debt repurchases after the government skipped a $30.6 million interest payment on Nov. 15, invoking a 30-day grace period, the newspaper reported.

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Remember scandalfans, Saturday December 13th is the big Muffin annoucement day during his weekly live radio/TV show. Be there or be square.

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