Ecopetrol Bonds Price Tight

Ecopetrol Bonds Price Tight

Colombia

State-controlled Colombian oil giant Ecopetrol has issued COP1trn ($518m) in local bonds tight to guidance, according to a banker on the deal. Ecopetrol got demand for more than COP3trn, toward the low end of expectations. Bankers on the deal expected bids for 3x-4x times the amount offered. The AAA rated deal came in 4 tranches, all priced at par. A 5-year COP97.1bn piece pays 2.80% over IPC, a 7-year COP138.70bn 3.30% over IPC, a 10-year COP479.90bn 3.94% over IPC and a 30-year COP284.30bn pie

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