September 12, 2018 |
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
Scotiabank, Mizuho agree to $665m deal with Colombia's state-run oil company