March 11, 2019 |
Colombia's EPSA said it has acquired electricity distribution assets from Compañía Energética del Tolima for COP1.68tn ($529m).
EPSA will get a bridge loan to cover the acquisition and then refinance the short-term debt with local bond sales and revenues from the new business, the company said in a press release.
EPSA has increased the size of its bond program to COP2tn from COP900bn to help finance the deal, it said.
EPSA issued COP600bn in local notes in 2010 and plans to keep COP300bn availab
Colombian power company agrees to spend $529m for Compañía Energética del Tolima