Strong Demand Expected for Ecopetrol Bonds

Strong Demand Expected for Ecopetrol Bonds

Colombia

Colombian oil giant Ecopetrol is set to issue COP800bn ($417m) in local bonds today with the possibility of going up to COP1trn depending on demand. Local bankers on and off the deal say demand will likely surpass COP1trn. One banker on the deal says demand could reach 3x-4x times the maximum amount as Ecopetrol is favored by investors seeking to benefit from the popularity of the energy sector in Colombia. The issue will have tenors of 5, 7, 10 and 30 years at various spreads over the IPC bench

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