July 1, 2021 |
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
Colombia's state-owned oil company plans to raise $1.4 bln in debt for "organic" investment plans