Ecopetrol Secures $530 Million Loan from International Banks

Reuters11-25
Ecopetrol Secures $530 Million Loan from International Banks

Ecopetrol S.A., Colombia's largest energy company, has received authorization from the Ministry of Finance and Public Credit to enter into a loan agreement of up to USD 530 million with Banco Latinoamericano de Comercio Exterior, S.A. and Sumitomo Mitsui Banking Corporation. The credit facility will have a five-year term with a bullet repayment at maturity and a variable interest rate indexed to SOFR. The funds will be used to finance investments in line with Ecopetrol's 2025 financing plan. The agreement includes standard borrower default provisions and is governed by the laws of the State of New York.

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