BBVA grants Ecopetrol a US$250 million loan for comprehensive debt management

Ecopetrol S.A., Colombia's largest company, has received authorization from the Colombian Ministry of Finance and Public Credit to borrow a USD400 million loan from international banks. BBVA has disbursed an amount of USD250 million, while MUFG Bank LTD has participated with another USD150 million.

As explained by the company, this loan, which has a term of five years from the date of signing the contract, is part of its integral debt management strategy. The principal will be paid at maturity and the interest rate will be variable.

Carlos Alberto Rodríguez, head of BBVA Corporate & Investment Banking in Colombia, points out: "We are thankful to Ecopetrol Group for giving us the opportunity to accompany them in their latest financing for USD400 million together with MUFG Bank LTD, with a final take from BBVA of USD250 million. It is a privilege to work together with such a professional team that is so committed to their transition to a cleaner and more sustainable operation. At BBVA we will continue supporting our clients' growth in Colombia and elsewhere in the world."