Ecopetrol readies bond sale

Ecopetrol readies bond sale

Corporate & Sovereign Strategy Economy & Policy Bonds Debt Fixed Income Colombia Capital Markets

Colombian state-owned oil company Ecopetrol said Wednesday that it had received authorization from the Finance Ministry to issue $1.4 billion in bonds in the international market.  Ecopetrol will use the proceeds to "finance organic growth opportunities and the ordinary course of its business," it said in a statement, adding that it has to receive approval from the board of directors before it can issue bonds. Ecopetrol said in December last year that it planned to make $3.5 billion to $4 billio

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