Ecuador is tappingthe international market for $1 billion in bonds that yield around 10.75%, BloombergNews reported, citing "a person familiar with the matter."

The countryis offering five-year, U.S. dollar-denominated notes, which carry the highest couponthe nation has offered since 2000. Citigroup Inc. is handling the sale, the reportsaid

S&P GlobalRatings assigned a B issue rating on the senior unsecured notes issuance. The notesare due in March 2022, S&P said.

S&P Global Ratings and S&P Global MarketIntelligence are owned by S&P Global Inc.