EEB Turns to Locals for Financing

EEB Turns to Locals for Financing

People Corporate & Sovereign Strategy

Colombian energy company EEB is in talks to raise $400m in new debt in the local bank market. Astrid Martinez, CEO, says she is discussing with a group of banks raising a 3-year bullet bridge loan at an expected rate of DTF plus 450bp-500bp. She notes that the price will likely be some 50bp higher than what might have been achieved prior to September. In the next 2 years, the company will seek a longer-term takeout, likely with international banks. The new debt will finance 2 large gas pipeline

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