By Marisa Wong
Los Angeles, April 27 – Ecopetrol SA priced $2 billion of 6 7/8% senior notes due 2030 at 99.112 to yield 7%, according to an FWP filing with the Securities and Exchange Commission.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Scotia Capital (USA) Inc. are the joint bookrunners for the SEC-registered deal.
Proceeds will be used for general corporate purposes, including financing its investment plan for the 2020-2021 period.
The Bogota, Colombia-based petroleum company intends to apply to list the notes on the New York Stock Exchange.
| Issuer: | Ecopetrol SA
|
| Issue: | Senior notes
|
| Amount: | $2 billion
|
| Maturity: | April 29, 2030
|
| Bookrunners: | Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Scotia Capital (USA) Inc.
|
| Coupon: | 6 7/8%
|
| Price: | 99.112
|
| Yield: | 7%
|
| Call option: | Make-whole call at any time prior to Jan. 29, 2030 at premium based on Treasuries plus 50 bps; par call at any time on or after Jan. 29, 2030
|
| Pricing date: | April 24
|
| Settlement date: | April 29
|
| Expected ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Listing: | NYSE
|
| Distribution: | SEC registered
|
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