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LONDON, July 20, 2020 /PRNewswire/ -- The Ad Hoc Group of Ecuador Bondholders (the "Ad Hoc Group") is pleased to announce that it supports the commercial terms of the restructuring of all ten series of Ecuador's c.$17.4 billion in outstanding sovereign bonds and the legal enhancements to the Republic of Ecuador's indentures, as published today in the Republic of Ecuador's Consent Solicitation and Invitation to Exchange (the "Invitation"). The Ad Hoc Group comprises major institutional holders of Ecuador's external sovereign debt including, among others, funds managed or advised by AllianceBernstein, Ashmore Investment Management Limited and Ashmore Investment Advisors Limited, Ayres Investment Management LLP, BlackRock Financial Management, Inc. and its affiliates, BlueBay Asset Management LLP, and Wellington Management Company LLP. The Ad Hoc Group is advised by its international legal counsel, White & Case LLP. Funds managed or advised by members of the Ad Hoc Group collectively hold in excess of 53% of Ecuador's total outstanding sovereign bonds, including either in excess of or close to 50% in almost every individual series. The members of the Ad Hoc Group believe the successful completion of the transactions contemplated by the Invitation will make a substantial contribution to ensuring the sustainability of Ecuador's external debt in the medium term, paving the way for the country to achieve strong, sustainable, and inclusive economic growth. Alongside fresh financial support from the IMF and other international partners of Ecuador, the debt relief provided by Ecuador's bondholders upon completion of the announced restructuring will help the government respond effectively to the twin COVID and economic crises facing the country. The successful completion of Ecuador's debt restructuring will set an important precedent for post-COVID emerging market sovereign debt resolution, demonstrating how a debtor-creditor relationship founded on principles of good faith and mutual understanding can lead to a positive outcome for all parties. SOURCE White & Case LLP Related Links www.whitecase.com

Answer: Ad Hoc Group of Ecuador Bondholders announces support for the restructuring terms in the Republic of Ecuador's Consent Solicitation and Invitation to Exchange relating to its outstanding sovereign bonds English Latin America - espaol