Ecopetrol Ties Up Domestic Loan

Ecopetrol Ties Up Domestic Loan

Colombia Loans

Ecopetrol has closed on a COP1.84trn ($968.6m) a loan from a group of domestic banks, the Colombian state-controlled oil producer says. The 12-year loan with a 3-year grace period has an interest rate of DTF+2.5%. Of the proceeds, COP1.55trn will be used for loan repayment and COP284bn will be used for investment and general corporate purposes this year, according to Ecopetrol. The new facility replaces a 7-year DTF+4.0% facility. Banco de Bogota and Banco BBVA Colombia led the transaction, with

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