Ecopetrol signs credit line with two banks

Ecopetrol signs credit line with two banks

Loans Structured Finance Colombia

Colombia's Ecopetrol has signed a two-year, $665m contingent credit line with Scotiabank and Mizuho, the state-run oil company said in a statement. The Canadian lender provided $430m while its Japanese peer agreed to offer $235m. The line features a two-year disbursement period over a five-year maturity. Ecopetrol received the line at 125bp over Libor while the annual fee came in at 30bp for non-disbursed principal. Proceeds may be used to advance Ecopetrol's liquidity and to mitigate risks from

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