Ecopetrol sells bonds amid historically low oil prices

Ecopetrol sells bonds amid historically low oil prices

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Energy Colombia US Latin America Coronavirus

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

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