By Christine Van Dusen
Atlanta, June 8 – Ecopetrol SA priced a $500 million tap of its 5 7/8% notes due Sept. 18, 2023 at 101.612 to yield 5.6% on Wednesday, a market source said.
BofA Merrill Lynch and HSBC were the bookrunners for the Securities and Exchange Commission-registered deal.
The proceeds will be used for general corporate purposes, including capital expenditures.
The company originally sold $1.3 billion of the notes on Sept. 11, 2013 at 305 bps over Treasuries.
Ecopetrol is a Bogota, Colombia-based petroleum company.
| Issuer: | Ecopetrol SA
|
| Amount: | $500 million
|
| Maturity: | Sept. 18, 2023
|
| Description: | Notes add-on
|
| Bookrunners: | BofA Merrill Lynch, HSBC
|
| Coupon: | 5 7/8%
|
| Price: | 101.612
|
| Yield: | 5.6%
|
| Spread: | Treasuries plus 409.6 bps
|
| Call options: | Make-whole call at Treasuries plus 45 bps
|
| Trade date: | June 8
|
| Settlement date: | June 15
|
| Distribution: | SEC registered
|
| Original issue: | $1.3 billion priced on Sept. 11, 2013 at 305 bps over Treasuries
|
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