Colombia’s oil company raises funds in bonds market and plans to cut production — MercoPress



&#13
&#13
&#13
&#13
&#13

 

&#13

&#13
&#13
&#13

 

&#13
&#13

Colombia’s oil corporation raises cash in bonds sector and plans to slice creation

Tuesday, April 28th 2020 – 07:12 UTC

&#13
The bonds with a 7% generate were oversubscribed by two-and-a-50 % occasions, with some 250 buyers bidding a full of US$ 5 billion in the issuing spherical, Ecopetrol stated.

Colombia’s Ecopetrol stated on Monday it raised US$ 2 billion by means of far more than a doubly subscribed bond concern. The vast majority state-owned Ecopetrol issued 10-12 months paper because of April 29, 2030, with a 7% produce.

 On Friday, Ecopetrol minimize assistance for its initially-quarter outcomes and stated it would appear to elevate dollars via the bond situation due to the fact of the fall in oil selling prices brought on by the spread of the new coronavirus.

The bonds have been oversubscribed by two-and-a-fifty percent moments, with additional than 250 traders bidding a complete of US$ 5 billion in the issuing spherical, Ecopetrol reported.

The oil organization is seeing current market actions and could make more reductions to its financial commitment strategy for this 12 months, it reported previous week. Ecopetrol also mentioned it may well reduce its 2020 output focus on, which is currently in a selection of 745,000 and 760,000 barrels of oil equal per day.

 

&#13
&#13





Source hyperlink

Recent Content