Ecopetrol Gets OK To Issue, Place Bonds

Instant Max AI

(Ecopetrol, 30.Jun.2021) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) received authorization from the Ministry of Finance and Public Credit, through Resolution 1484 of 29 June 2021, to structure the issuance and placement of bonds in the international capital markets for up to $1.4bn, to finance organic growth opportunities and the ordinary course of its business.

This authorization itself does not constitute an approval for the issuance of securities or a financing operation, therefore Ecopetrol must complete all necessary approval procedures with its own Board of Directors, as well as the Colombian Ministry of Finance and Public Credit, before proceeding with any debt issuance covered by this authorization. In case of proceeding, it would be duly announced to markets.

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