The Ecopetrol Group will no longer owe a single peso for the acquisition of Interconexión Eléctrica SA (ISA). The administration of the oil company announced to the market that paid the loan in advance assumed for the acquisition of the energy transporter.
The company reported in a statement in relevant information from the Financial Superintendence which, as part of its comprehensive debt management strategy, will disburse the resources associated with the existing financing line for US$1.2 billion, contracted in August 2021, with a group of international banks, and approved by the Ministry of Finance.
“Resources will be allocated in its entirety to the advance payment of the credit originally contracted for the acquisition of Interconexión Eléctrica SA With this operation, to date US$3,200 million have been paid to the lending banks of said credit, leaving a remaining balance to be refinanced of US$472 million, due in August 2023”, highlights the release.
Next line, underlines the note that the disbursement of the financing line has complied with all required internal and external procedures and approvals, and does not increase the Company’s indebtedness.
“This transaction reduces the needs of 2023 refinancing and captures benefits from existing debt resources in competitive terms against current market conditions”, indicates the Ecopetrol statement.