Ecuador 10,5 percent 24-03-2020 XS1199929826
The Notes are and will be
issued in registered form and, in limited circumstances, definitive form in minimum denominations of
U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof.
Cleary kommt wohl erst bei der Restrukturierung mit an Bord
ISSUER
The Republic of Ecuador
Ministry of Finance
Ave. 10 de Agosto 1661 y Jorge Washington
Quito, Ecuador
LEAD MANAGER
Citigroup Global Markets Limited
Citigroup Centre
33 Canada Square
Canary Wharf
London E14 5LB
United Kingdom
LEGAL ADVISORS TO THE REPUBLIC OF ECUADOR
As to United States and English Law
Hogan Lovells US LLP
875 Third Ave.
New York, New York 10022
United States
As to Ecuadorian Law
Coordinación General Jurídica
Ministerio de Finanzas
Av. 10 de Agosto 1661 y J. Washington
Quito, Ecuador
LEGAL ADVISORS TO THE LEAD MANAGER
As to United States and English Law
Clifford Chance US LLP
31 W. 52nd St.
New York, New York 10019
United States
As to Ecuadorian Law
Pérez Bustamante & Ponce
Av. República del Salvador No.1082
Quito, Ecuador
TRUSTEE AND REGISTRAR
The Bank of New York Mellon
101 Barclay Street, Floor 7E
New York, New York 10286
United States
Attention: Corporate Trust – Global Americas
LONDON PAYING AGENT
The Bank of New York Mellon, London Branch
One Canada Square, 40th Floor
London E14 5AL
United Kingdom
LUXEMBOURG TRANSFER, LISTING, AND PAYING AGENT
The Bank of New York Mellon (Luxembourg) S.A.
Vertigo Building – Polaris
2-4 rue Eugène Ruppert
L-2453
Governing Law:
The Notes will be governed by the laws of the State of New York,
except for the terms concerning submissions to arbitration which will be
governed by English law.
Submission to Arbitration: Any dispute, controversy or claim of any nature arising out of, relating
to or having any connection with the Indenture, including any dispute
as to the existence, validity, interpretation, performance, breach,
termination or consequences of the nullity of the Indenture (a
"Dispute") where the Republic is either a party, claimant, respondent or
otherwise is necessary thereto, will not be referred to a court of any
jurisdiction and will instead be referred to and finally resolved by
arbitration under the Rules of the LCIA ("LCIA Rules") as at present in
force as modified by the Indenture which LCIA Rules are deemed to be
incorporated by reference. In particular:
(a) There will be three arbitrators.
(i) Each arbitrator will be an English or New
York qualified lawyer of at least 15 years’
standing with experience in relation to
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international banking or capital markets
disputes. At least one of those arbitrators will
be a lawyer qualified in New York.
(ii) If there are two parties to the Dispute, each
party will be entitled to nominate one
arbitrator. If there are multiple claimants
and/or multiple respondents, all claimants
and/or all respondents will attempt to agree
upon their respective nomination(s) such that
the claimants will together be entitled to
nominate one arbitrator and the respondents
will together be entitled to nominate one
arbitrator. If any such party or multiple
parties fail to nominate an arbitrator within
thirty (30) days from and including the date
of receipt of the relevant request for
arbitration, an arbitrator will be appointed on
their behalf by the LCIA Court in accordance
with the LCIA Rules and applying the criteria
at clause (ii) above. In such circumstances,
any existing nomination or confirmation of
the arbitrator chosen by the party or parties
on the other side of the proposed arbitration
will be unaffected, and the remaining
arbitrator(s) will be appointed in accordance
with the LCIA Rules.
Specifically, payments of principal or interest on the Notes may be attached, enjoined or otherwise
challenged by holders of other debt instruments of Ecuador, including outstanding holders of the 2012 and 2030
Bonds. Some creditors have, in recent years, used litigation tactics against several sovereign debtors that have
defaulted on their sovereign bonds including Peru, Nicaragua and Argentina, to attach or interrupt payments
made by these sovereign debtors to, among others, holders of the relevant defaulted bonds who agreed to a debt
restructuring and accepted new securities in an exchange offer. Ecuador may also become subject to suits to
collect on defaulted indebtedness. Ecuador cannot guarantee that a creditor will not be able to interfere, through
an attachment of assets, injunction, temporary restraining order or otherwise, with payments made under the
Notes. As of the date of this Offering Circular, the Republic is aware of claims that have been made by two
holders of the 2030 Bonds. For more information see "Public Debt – Debt Obligations – 2012 and 2030 Bonds
and tender offer."
Claims under the 2030 Bonds
On December 12, 2014, GMO Trust issued proceedings against the Republic in respect of an alleged
U.S.$15,876,000 holding of 2030 Bonds. GMO voluntarily withdrew its complaint pursuant to a settlement
agreement between the parties. A stipulation dismissing the complaint was filed on March 16, 2015; under that
stipulation, the case cannot be re-filed.
wie ihr seht....man kann Sovereigns erfolgreich verklagen.....hier hat man sich geeinigt....mit Sicherheit auch um die BondEmission zu erleichtern...
On January 30, 2015, Daniel Penades issued proceedings against the Republic in respect of an alleged
U.S.$455,000 holding of 2030 Bonds. Daniel Penades has not yet served the Republic with his summons and
complaint, and therefore the Republic as yet has no obligation to make any response to the suit.
Ich habe es schon immer geblogt.....Teile des Emissionserlöses können gepfändet werden....
Part of the offering proceeds could be attached by creditors to satisfy outstanding arbitral awards and
judgments (if applicable) against Ecuador.
Creditors holding outstanding arbitral awards or court judgments present a risk of disruption to the
offering. This could involve any type of creditor, including trade, supply, investor and finance creditors who
obtain arbitral awards and possibly seek to enforce these awards or judgments. The risk with respect to the
offering includes that the Lead Manager in the offering could be said to have an obligation to pay the offering
proceeds to Ecuador, and that Ecuador’s creditors may attempt to enforce their rights against Ecuador’s interest
in any such obligation. Further, Ecuador’s creditors could attempt to attach the proceeds of the offering or the
payment of principal and/or interest on the Notes.
Payments to holders of the Notes could be attached by creditors, including holders of other debt
instruments of Ecuador, to satisfy awards against Ecuador. As a result, Ecuador may not be able to make
payments to holders of the Notes.
Die von dir respektlos als "bondboardkinder" titulierten alois und wally und andere sind allerdings im Gegensatz zu dir allesamt erfolgreiche Anleger und müssen nicht wie du Bankrotteur laufend den Offenbarungseid leisten.
AntwortenLöschendu meinst wohl despektierlich....
AntwortenLöschenzu erfolgreichen Spekulationen.....einfach mal obersten Blogeintrag angucken....Greece