Ecuador bond holders poised to accept 35 cents, says FT

Ecuador will announce this week a deal with holders of its $3.2 billion of defaulted bonds, according to the Financial Times. The newspaper reports that bond holders are expected to accept an offer worth 35 cents in the dollar. The price was determined through an auction for the defaulted debt, which, according to the article, should ensure that there are few hold-outs among bond holders. It notes that Ecuador is likely to stay current on its 2015 bond, as much of this debt is held by neighbouring Venezuela.