By Devika Patel
Knoxville, Tenn., Dec. 2 - Ecopetrol SA said it priced a COP 1 quadrillion bond offering. The deal was announced as a COP 800 billion offering on Wednesday and will be conducted through a Dutch auction.
The bonds will be issued in denominations of COP 50 million and will accrue interest at a variable IPC rate.
The bonds will have four maturities. The COP 97.1 trillion of five-year bonds will accrue interest at IPC plus 280 basis points, the COP 138.7 trillion of seven-year bonds will accrue interest at IPC plus 330 bps, the COP 479.9 trillion of 10-year bonds will accrue interest at IPC plus 394 bps and the COP 284.3 trillion of 30-year bonds will accrue interest at IPC plus 490 bps.
Proceeds will be used to finance the company's 2010 investment plan.
Ecopetrol is a Bogota, Colombia-based energy firm.
| Issuer: | Ecopetrol SA
|
| Issue: | Bonds
|
| Amount: | COP 1 quadrillion
|
| Price: | Par of COP 50 million
|
| Warrants: | No
|
| Announcement date: | Dec. 1
|
| Pricing date: | Dec. 2
|
| Distribution: | Dutch auction
|
|
|
| Five-year bonds
|
| Amount: | COP 97.1 trillion
|
| Maturity: | Five years
|
| Coupon: | IPC plus 280 bps
|
|
|
| Seven-year bonds
|
| Amount: | COP 138.7 trillion
|
| Maturity: | Seven years
|
| Coupon: | IPC plus 330 bps
|
|
|
| 10-year bonds
|
| Amount: | COP 479.9 trillion
|
| Maturity: | Ten years
|
| Coupon: | IPC plus 394 bps
|
|
|
| 30-year bonds
|
| Amount: | COP 284.3 trillion
|
| Maturity: | 30 years
|
| Coupon: | IPC plus 490 bps
|
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