Ecopetrol Gets MHCP Authorization For Up To $4 Bln Credit Loan

Ecopetrol S.A. (EC) said the Ministry of Finance and Public Credit authorized the company to enter into an external credit loan with international banks for up to $4 billion whose exclusive purpose will be to finance the acquisition of Interconexión Eléctrica S.A. ESP. The lenders under the credit facility are Banco Santander, S.A., Citibank, N.A., JPMorgan Chase Bank, N.A. and The Bank of Nova Scotia.

Ecopetrol is one of the main integrated oil and gas conglomerates in Latin America, which accounts for more than 60% of the hydrocarbon production in Colombia.