LatinNews Daily - 11 January 2023

In brief: Colombia’s Ecopetrol celebrates bond placement

* Colombia’s state oil company, Ecopetrol, has issued US$2bn in bonds on the international market as part of a strategy to pay debts related to its 2021 acquisition of electricity transmission company Interconexón Elétrica and fund its investment plan for this year. Ecopetrol said that the income generated from the bond placement “reached a value of more than US$6bn, approximately equivalent to three times the amount issued”. This, Ecopetrol said, “shows a better market environment at the start of 2023 and confirms the confidence of investors and the international financial sector in the company”. The 10-year bonds have a yield of 9% and a coupon rate of 8.875%, and have been rated ‘BB+’ by Fitch Ratings.

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