Colombia's Ecopetrol to sell up to COP 800 billion bonds

By Devika Patel

Knoxville, Tenn., Dec. 1 - Ecopetrol SA said it plans to sell COP 800 billion of bonds through a Dutch auction.

The bonds will be issued in denominations of COP 50 million and will accrue interest at either a fixed rate or a variable IPC or DTF rate. The bonds will be issued in three series - series A variable IPC rate bonds, series B variable DTF rate bonds and series C fixed-rate bonds.

The bonds will mature between three and 30 years after issuance.

Proceeds will be used to finance the company's 2010 investment plan.

Ecopetrol is a Bogota, Colombia-based energy firm.

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