Ecopetrol Restructures its Debt with Bond Repurchase and New Issue of 1,850 Million

The 12-year issue with an 8.450% yield

The new issue, with a term of 12 years, matures on January 19, 2036, and will have a yield of 8.450% and a coupon rate of 8.375%, the company reported in a statement.

“The book of the issue reached a value of more than 6,000 million dollars, equivalent to approximately 3.2 times the amount placed, and had a demand from more than 300 investors from the United States, Europe, Asia and Latin America,” he indicated. the company.

2014 Bond Repurchase Offer:

Previously, Ecopetrol, Colombia’s largest company, had announced that today it would launch an offer to buy back all of its bonds issued in 2014 in the international market, which matures in 2025, “as part of its comprehensive debt management strategy.”

“As announced (…) the net proceeds of the issue will be used to finance the repurchase of the bonds maturing in 2025, and to finance expenses other than investment, which includes the refinancing of other obligations,” he said.

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According to Ecopetrol, “the conditions obtained ratify the confidence of investors and the financial sector in the company.”