Ecopetrol S.A. Reports the Change of Authorized Guarantees for Syndicated Loan with Colombian Banks
Ecopetrol S.A. (NYSE: EC) reports that under amendment No.1 to the COP$2.2 trillion (approximately US$1 billion) syndicated loan facility executed with a syndicate of local banks in May 2009, participating banks agreed to replace the guarantees, which originally included a pledge over shares held directly or indirectly by Ecopetrol S.A. in Refineria de Cartagena, Oleoducto Central S. A., and Polipropileno del Caribe S.A. , with a closed-end pledge over shares held directly by Ecopetrol in Hocol Petroleum Limited, Offshore International Group and Polipropileno del Caribe S.A..
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