(Ecopetrol, 29.Jun.2023) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) announced that, as part of its refinancing strategy and financing of the 2023 investment plan, it successfully placed External Public Debt Bonds in the international capital market, based on the authorization issued by the Ministry of Finance and Public Credit through Resolution 1592 of 28 June 2023. The operation was approved by the company’s Board of Directors on 26 January of this year, and closed under the following conditions:
| Results | ||
| Term | 5.5 years | 10 years (reopening) |
| Transaction date | 28 June 2023 | 28 June 2023 |
| Settlement date (t+5) | 6 July 2023 | 6 July 2023 |
| Maturity date: | 19 January 2029 | 13 January 2033 |
| Principal: | US$1.2bn | US$300mn |
| Yield: | 8.625 % | 9.000 % |
| Coupon: | 8.625 % | 8.875 % |
| Coupon frequency: | semi-annually | |
| Credit Rating (Moody’s/S&P/Fitch) | Baa3 / BB+ / BB+ |
The issuance book reached a value of more than $3.8bn, equivalent to approximately 2.5 times the amount placed, and included demand from around 200 investors from the United States, Europe, Asia and Latin America. The conditions obtained ratify the confidence of investors and the international financial sector in the company, as well as a good market environment.
The use of the proceeds of the issuance is for the financing of the organic investment plan, as well as other expenditures.
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