Ecopetrol Obtains Authorization to Borrow One Trillion Pesos from Bancolombia

Instant Max AI Immediate Frontier

(Ecopetrol, 17.Mar.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that, as part of its integral debt management strategy and the refinancing of the debt maturing on 2023, through Resolution 0655 of 16 March 2023, it received the authorization of the Ministry of Finance and Public Credit to enter into a one trillion Colombian pesos (COP) committed line of credit with Bancolombia.

The authorized line of credit will have a term of five (5) years from the date of the first disbursement, capital repayment at maturity, a variable interest rate previously agreed between the parties and an availability period until 16 December 2024. The resources will be entirely used to pay commitments derived from existing credit obligations of Ecopetrol.

To obtain the committed facility, Ecopetrol complied with all the required internal and external procedures and approvals. The conditions obtained ratify the confidence of the financial sector in the company and its proactive management of the 2023 debt maturities.


Previous post Petrobras on Letter from the Ministry of Mines and Energy (MME)
Next post Sempra Launches Port Arthur LNG with $13bn FID [Video + PDF Download]