Ecopetrol disburses $1.2 billion credit facility for refinancing

Chicago, Sept. 29 – Ecopetrol SA made a disbursement of a $1.2 billion credit facility from August 2021 with a group of international banks, according to a press release.

The borrowings are being used to early repay the loan Ecopetrol entered into for the acquisition of Interconexion Electrica SA.

After the repayment, a total of $3.2 billion will be paid to the original lenders of the acquisition loan, leaving a balance of $472 million with an August 2023 maturity date.

The transaction reduces the company’s refinancing needs for 2023 “and captures the benefits of existing and competitive credit resources as compared to current market conditions,” the company said.

The oil company is based Bogota, Colombia.

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