April 27, 2020 |
Colombia's state-owned oil company Ecopetrol sold $2 billion worth of bonds on Friday, offering a yield of 7% for the 10-year notes as oil prices lingered near historic lows.
Ecopetrol sold the new 2030 notes at a spot price of 99.112 with a coupon of 6.875% to get the yield to 7%, said a source familiar with the deal.
The company had opened the deal with initial price talk in the 7.375% area before tightening it 7% when it launched, another source said.
The bookrunners were Goldman Sachs, JPMor
Colombia's state-owned oil company pays 7% to raise $2 bln from 10-year notes