BOGOTÁ, Colombia, Dec. 21, 2022 /PRNewswire/ — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC, the “Corporate”) informs that, as a part of its debt control technique and refinancing of 2023 maturities, it entered right into a USD 1.0 billion credit score settlement with The Financial institution of Nova Scotia (with a participation of USD 700 million) and Sumitomo Mitsui Banking Company (with a participation of USD 300 million).
The mortgage has a time period of 5 (5) years starting up at the signing date, topic to the next stipulations: (i) important amortizable in 4 equivalent semiannual installments all through the remaining two years of the time period of the settlement and (ii) a variable rate of interest of SOFR + 210 foundation issues payable semiannually; amongst others.
The contract used to be licensed through the Ministry of Finance and Public Credit score (“MHCP” for its Spanish acronym) via answer 3373 of December 19, 2022, throughout the framework of a request submitted through the Corporate to execute an exterior public debt control operation:
i. For the substitution of the present nominal quantity of USD 665 million underneath the non-revolving dedicated line entered on September 20, 2018 with Mizuho Financial institution Ltd., The Financial institution of Nova Scotia and Banco Sabadell, which used to be licensed through the MHCP pursuant to Answer No. 2733 of September 04, 2018; and,
ii. To make bills at the important maturities of the Cartagena Refinery loans assumed through the Corporate, licensed through the MHCP pursuant to Answer No. 4112 of December 7, 2017.
To procure the mortgage, the Corporate complied with all of the required inner and exterior procedures and approvals.
The Corporate believes the stipulations bought illustrate self belief of the world monetary sector within the Corporate and its proactive control of the 2023 debt maturities.
Ecopetrol is the biggest corporate in Colombia and one of the vital major built-in power firms within the American continent, with greater than 18,000 workers. In Colombia, it’s accountable for greater than 60% of the hydrocarbon manufacturing of maximum transportation, logistics, and hydrocarbon refining methods, and it holds main positions within the petrochemicals and fuel distribution segments. With the purchase of 51.4% of ISA’s stocks, the corporate participates in power transmission, the control of real-time methods (XM), and the Barranquilla – Cartagena coastal freeway concession. On the world stage, Ecopetrol has a stake in strategic basins within the American continent, with Drilling and Exploration operations in the USA (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, via ISA and its subsidiaries, Ecopetrol holds main positions within the energy transmission industry in Brazil, Chile, Peru, and Bolivia, highway concessions in Chile, and the telecommunications sector. This press unlock accommodates industry prospect statements, working and monetary consequence estimates, and statements associated with Ecopetrol’s enlargement possibilities. Those are all projections and, as such, they’re primarily based only at the expectancies of the managers referring to the way forward for the corporate and their persisted get right of entry to to capital to finance the corporate’s marketing strategy. The conclusion of stated estimates sooner or later is dependent upon the conduct of marketplace stipulations, laws, pageant, and the efficiency of the Colombian financial system and the trade, amongst different elements, and are as a result topic to modify with out prior understand.
This unlock accommodates statements that can be regarded as forward-looking statements throughout the which means of Segment 27A of the U.S. Securities Act of 1933, as amended, and Segment 21E of the U.S. Securities Trade Act of 1934, as amended. All forward-looking statements, whether or not made on this unlock or in long run filings or press releases, or orally, cope with issues that contain dangers and uncertainties, together with in recognize of the Corporate’s possibilities for enlargement and its ongoing get right of entry to to capital to fund the Corporate’s marketing strategy, amongst others. As a result, adjustments within the following elements, amongst others, may just purpose exact effects to fluctuate materially from the ones incorporated within the forward-looking statements: marketplace costs of oil & fuel, our exploration, and manufacturing actions, marketplace stipulations, appropriate laws, the change price, the Corporate’s competitiveness and the efficiency of Colombia’s financial system and trade, to say a couple of. We don’t intend and don’t think any legal responsibility to replace those forward-looking statements.
For more info, please touch:
Head of Capital Markets (a)
Maria Catalina Escobar Hoyos
Electronic mail: [email protected]
Head of Company Communications (a)
Juan Guillermo Londoño
Correo electrónico: [email protected]
SOURCE Ecopetrol S.A.