Ecopetrol receives $ 500 million loan authorization from Banco Santander

Colombia Ecopetrol -controlled oil company has been authorized by the Ministry of Finance and Public Credit (MHCP) to run a $ 500 million loan agreement with Banco Santander.

The loan, approved through resolution 0910 on April 25, 2025, will have a period of five years and a interest rate indexed by the guaranteed financing rate (SOFR).

The funds of this loan are used for non-investment expenses, aligning with the resolution of the MHCP and the Ecopetrol financing plan for 2025.

This financial movement is part of the company’s strategy to maintain its gross/ebitda goal (gains before interest, taxation, depreciation and amortisatoin) for the year.

The compliance with ecopetrol of all the necessary internal procedures and approvals allowed the review and authorization of the MHCP of the draft of the agreement, which will be governed by the laws of the state of New York.

The company had executed a similar agreement in August 2024 by a loan agreement of up to $ 250 million with Sumitomo Mitsui Banking Corporation, authorized by the MHCP through resolution 2476.

The loan is expected to have a period of five years, with the main due to maturity and a variable interest rate. Funds will be used for non -investment expenses, including reimbursement of financial obligations that occur in 2026.

Atmosphere recently reported that Ecopetrol is raised Record of up to $ 2 million in debt by 2025 to finance strategic investments.

The company is exploring funding routes that include banking loans and capital market instruments, to support potential acquisitions and new projects.

Ecopetrol is also evaluating Continuity options for gas projects in the south of the CaribbeanAfter Shell retired from projects.

Off-sea assets include Kronos-1 gas discoveries, Purple Angel 1, Gorgon 1 and 2 and Glaucus 1, located inside the Colla 5 blocks, Purple Angel and Fuerte Sur.

“Ecopetrol receives $ 500 million loan authorization from Banco Santander” was created and published by Offshore Technologya brand of Globaldata property.

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