Colombia’s Ecopetrol eyes placement of $1.4 billion bonds

By Rebecca Melvin

Concord, N.H., June 30 – Ecopetrol SA has received authorization from Colombia’s Ministry of Finance and Public Credit to structure and place $1.4 billion of bonds in the international capital markets, according to a company news release on Wednesday.

The proceeds of the issuance will be used to finance organic growth opportunities and the ordinary course of its business.

The Bogota, Colombia-based petroleum company intends to apply to list the notes on the New York Stock Exchange.

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