Financing Assured for Phase 1 of Bicentenario Pipeline
Ecopetrol (NYSE: EC) announces the financial closing of the phase 1 of the Bicentenario Pipeline. The financing was completed with a syndicated loan from Colombian banks in the amount of $2.1 trillion pesos. The financial terms include an interest rate of DTF + 4.54%, and a term of 12 years with a 1-year grace period.
The loan does not include any financial guarantee from the partners. However, there are “ship or pay” transport commitments from the partners which are intended to ensure the necessary revenues to meet the debt service payments of the syndicate loan.
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