Epetrol was allowed to request a mortgage from native banks

Epetrol obtained approval from the Ministry of Finance and Public Credit score to borrow $1 billion. Relying on the entity, the mortgage will likely be used for funding prices.

The oil firm will go into debt with Financial institution of Bogotafor $642,000 million; Western Financial institutionwith $208,000 million, and A well-liked financial institutionwith $150,000 million.

Based on Epetrol, the requested billion will likely be allotted to numerous funding prices, together with the cost of current commitments.

he’s the time period will likely be seven yearswith a grace interval of two years from the date of the primary cost, the entity assured.

The mortgage will likely be paid in ten equal installments each six months after an preliminary unpaid interval. The curiosity on the mortgage varies in accordance with the Reference Financial institution Benchmark (IBR), that’s, the rate of interest for a mortgage, as already agreed by the banks.

in accordance with Ecopetrolthe requested billion will likely be allotted to numerous funding prices, along with the cost of current commitments.

“The circumstances obtained for this settlement affirm the help and confidence of the monetary sector within the technique of the Epetrol Group.

It needs to be remembered that on March 16, 2023,. Banco Colombia he additionally received permission from Mine Hacienda request a mortgage from Bancolombia for $1 billion.

This mortgage had completely different circumstances. In precept, with a time period of 5 years, with amortization in a single installment after the fifth anniversary. It is going to be out there till December 16, 2024.

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