PANAMA CITY, Sept. 14, 2023 /PRNewswire/ -- Banco Latinoamericano de Comercio Exterior (Bladex) announced today the successful closing of a US$1 billion Term Loan Facility for Ecopetrol S.A.
Bladex acted as Joint Lead Arranger and three additional financial institutions joined the facility including Deutsche Bank AG as Global Coordinator and Joint Lead arranger. The funds from the Facility will be used to fund Ecopetrol's organic investment plan in 2023.
Jorge Pareja, Bladex´s country manager in Colombia stated: "Bladex is very pleased to have successfully executed the Term Loan Facility for Ecopetrol and to support their investment plan while securing long-term financing. This transaction marks the strong relationship with the largest corporate in Colombia and is a landmark transaction for the Public Sector. The Facility is a clear demonstration of Bladex's appetite for the Colombian market. The Facility adds to our credentials more than 70+ syndicated transactions arranged by Bladex in the Latin American Region".
Bladex, a multinational bank originally established by the central banks of Latin-American and Caribbean countries, initiated operations in 1979 to promote foreign trade finance and economic integration in the region. The Bank, headquartered in Panama, also has offices in Argentina, Brazil, Colombia, Mexico, and the United States of America, supporting the regional expansion and servicing its customer base, which includes financial institutions and corporations. Bladex is listed on the NYSE in the United States of America (NYSE: BLX), since 1992, and its shareholders include: central banks and state-owned banks and entities representing 23 Latin American countries; commercial banks and financial institutions; and institutional and retail investors through its public listing.
Ecopetrol S.A. is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 18,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and Mexico, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector.
For further information, please contact:
Bladex:
Felipe Suarez – SVP, Head of Loan Structuring & Syndications
E-mail address: fsuarez@bladex.com
Tel.: (+507) 210-8594
Head Office Address: Torre V, Business Park, Ave. La Rotonda, Urb. Costa del Este, Panama, Republic of Panama
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SOURCE Banco Latinoamericano de Comercio Exterior, S.A. (Bladex)
