Petroecuador Ponders Securitization

Ecuador’s state-owned Petroecuador is considering securitization plans to allow the company to issue securities via the country’s two stock exchanges in a bid to raise much-needed investment capital. The company needs to find around $163 million to fund two oil projects to increase productivity and is unable to attract private investment due to resistance by Congress to pass necessary reforms. If the plans get the green light, the securities would be offered via the local exchanges in the next six months.