September 18, 2019
Shareholders in Colombia's Promigas have approved a cross-border debt sale for as much as $400m to diversify the company's fundraising sources, according to a securities filing.
Promigas and its Peruvian affiliate, Gases del Pacífico, will issue the bonds under Rule 144A/Reg S in the US market and use the proceeds to pay off outstanding debt, the company said. Gases del Pacífico does business under the name Quavii.
Promigas transports 52% of natural gas in Colombia through 3,000km of pipelines.
Colombian natural gas company could sell up to $400m in dollar-denominated notes to pay off debt and diversify its funding sources