Reported Earlier, Ecopetrol To Amplify Operations With One Trillion Pesos Loan Following Government Authorization
Portfolio Pulse from Benzinga Newsdesk
Ecopetrol has secured a one trillion pesos loan from Banco de Bogotá, Banco de Occidente, and Banco Popular to amplify operations. The loan will be used for non-investment expenses and existing financial commitments, with a seven-year term and a two-year grace period.
June 18, 2024 | 8:29 am
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Ecopetrol has secured a significant loan to support its operations and manage financial commitments. This move aligns with its 2024 financing plan and aims to maintain its gross debt/EBITDA target.
The loan provides Ecopetrol with the necessary liquidity to manage its financial commitments and support operations, which is likely to be viewed positively by investors. The alignment with the 2024 financing plan and maintaining the gross debt/EBITDA target further strengthens the company's financial stability.
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