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LatinNews Daily - 16 April 2020
In brief: Colombia’s Ecopetrol seeks contingency credit
* Colombia’s state-owned oil company, Ecopetrol, has announced plans to take out US$1.075bn in loans to maintain liquidity during the coronavirus (Covid-19) pandemic. The company has requested drawdowns on existing arrangements with Scotiabank and Mizuho Bank to secure credit lines of US$430m and US$235m respectively, and announced its intention to contract a further US$410m in short-term financing from other unspecified sources. An Ecopetrol statement emphasised the need to “strengthen the liquidity position of the company in an environment of high uncertainty, where the protection of cash is a fundamental objective”.
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