Maria Elsa Viteri, the Susan Boyle of Ecuador finances.
Yesterday we heard that Ecuador would pay 35c on the dollar to buy back the those defaulted Global 12s and Global 30s with the big day set for June 3rd. Today the news is that the tendering date has been put back to June 12th. According to FinMin Viteri, the extra nine days are to give more time for reflection to those holders she talked to yesterday that are still threatening to hold out. There's clearly a game of cat and mouse going on now, but I'd suppose the fact they're playing these chess games augers well for a happy MuffinEnding.
Meanwhile, Reuters reports the Global 2015s, those bonds originally threatened to be included in the default package but eventually allow to roam free and undefaulted, are now trading at 52.75c on the dollar (yield 24%)....quite a comeback from the 25c prices of December and January."