Ecopetrol Launches, Holds $2.5bn Triple-Trancher

Sep 11, 2013

Colombia’s Ecopetrol is heard to have built a book of $11bn for what is set to be its second dollar bond since a 2009 debut. The $2.5bn triple-tranche deal was expected to be executed Tuesday, but Ecopetrol announced late in the day it would allocate and price Wednesday. “With $11bn in demand and three tranches, they probably didn’t have time to get through the orders,” says one senior syndicate...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management