Ecopetrol Gets US Exim Loan

Ecopetrol Gets US Exim Loan

Bonds Structured Finance

The US Exim Bank has approved a $1bn preliminary loan commitment for Colombia’s Ecopetrol, it says. The state-controlled oil company will use the funds to purchase goods and services from US providers as it develops reserves and upgrades refineries. Ecopetrol will have the opportunity to convert the commitment into specific medium- and long-term loan and guarantee transactions during the next two years, the bank says. Further details have not been negotiated, according to a US Exim spokesman. Ec

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