Summary by Moomoo AI
Ecopetrol S.A., Colombia's largest integrated energy company, has received authorization from the Ministry of Finance and Public Credit (MHCP) to execute a significant debt management transaction. The approval, granted through Resolution 0652 dated March 20, 2024, allows Ecopetrol to take a loan of up to USD 1,200 million. This strategic financial move involves multiple international lenders, including Bank of Nova Scotia, BBVA Securities Inc., Bank of America, N.A., JPMorgan Chase Bank, N.A., Itaú Chile New York Branch, and Standard Chartered Bank Hong Kong Limited. The five-year term loan, with principal repayment at maturity and a variable interest rate, is aimed at refinancing an outstanding USD 1,200 million loan that was due on August 16, 2023. The original loan, authorized in 2021, was used...Show More