Ecopetrol S.A. obtains authorization from the Financial Superintendency of Colombia to amend its Local Public Bond and Commercial Paper Issuance and Placement Program
Ecopetrol (NYSE: EC), Colombia's largest energy company, has received authorization from the Financial Superintendency of Colombia to amend its Local Public Bond and Commercial Paper Issuance and Placement Program (PEC). The authorization, granted through Resolution 1139, enables significant updates to the company's bond issuance capabilities.
The key amendments include the ability to issue sustainable performance-linked bonds, specific-purpose bonds (green, social, sustainable, and blue), bonds allowing in-kind payments, and bonds indexed to UVR and TRM. The program will also permit bond reopenings and security allocation through book-building.
Since the Program's first issuance of COP 900 billion in August 2013, no additional issuances have occurred. Ecopetrol maintains the capacity to issue additional bonds and commercial papers worth up to COP 2.1 trillion. The amendments align with Ecopetrol's corporate strategy focusing on decarbonization and energy transition while expanding its capital market options.
Ecopetrol (NYSE: EC), la pi霉 grande compagnia energetica della Colombia, ha ricevuto l'autorizzazione dalla Superintendencia Financiera de Colombia per modificare il suo Programma di Emissione e Collocamento di Obbligazioni Pubbliche Locali e Commercial Paper (PEC). L'autorizzazione, concessa tramite la Risoluzione 1139, consente importanti aggiornamenti nelle capacit脿 di emissione obbligazionaria della societ脿.
Le modifiche principali includono la possibilit脿 di emettere obbligazioni legate a performance sostenibili, obbligazioni a scopo specifico (verdi, sociali, sostenibili e blu), obbligazioni che consentono pagamenti in natura e obbligazioni indicizzate a UVR e TRM. Il programma permetter脿 inoltre riaperture di obbligazioni e allocazione di titoli tramite book-building.
Dalla prima emissione del Programma di COP 900 miliardi nell'agosto 2013, non sono state effettuate ulteriori emissioni. Ecopetrol mantiene la capacit脿 di emettere ulteriori obbligazioni e commercial paper per un valore fino a COP 2,1 trilioni. Le modifiche sono in linea con la strategia aziendale di Ecopetrol, che punta alla decarbonizzazione e alla transizione energetica, ampliando al contempo le opzioni nel mercato dei capitali.
Ecopetrol (NYSE: EC), la mayor compa帽铆a energ茅tica de Colombia, ha recibido la autorizaci贸n de la Superintendencia Financiera de Colombia para modificar su Programa de Emisi贸n y Colocaci贸n de Bonos P煤blicos Locales y Papel Comercial (PEC). La autorizaci贸n, otorgada mediante la Resoluci贸n 1139, permite importantes actualizaciones en las capacidades de emisi贸n de bonos de la empresa.
Las enmiendas clave incluyen la capacidad para emitir bonos vinculados a desempe帽o sostenible, bonos de prop贸sito espec铆fico (verdes, sociales, sostenibles y azules), bonos que permiten pagos en especie y bonos indexados a UVR y TRM. El programa tambi茅n permitir谩 reaperturas de bonos y asignaci贸n de valores mediante book-building.
Desde la primera emisi贸n del Programa de COP 900 mil millones en agosto de 2013, no se han realizado emisiones adicionales. Ecopetrol mantiene la capacidad para emitir bonos y papel comercial adicionales por un valor de hasta COP 2.1 billones. Las enmiendas est谩n alineadas con la estrategia corporativa de Ecopetrol, enfocada en la descarbonizaci贸n y la transici贸n energ茅tica, al tiempo que ampl铆a sus opciones en el mercado de capitales.
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Ecopetrol (NYSE : EC), la plus grande entreprise 茅nerg茅tique de Colombie, a re莽u l'autorisation de la Superintendance Financi猫re de Colombie de modifier son Programme d'脡mission et de Placement d'Obligations Publiques Locales et de Billets de Tr茅sorerie (PEC). Cette autorisation, accord茅e via la R茅solution 1139, permet des mises 脿 jour importantes des capacit茅s d'茅mission d'obligations de la soci茅t茅.
Les principales modifications comprennent la possibilit茅 d'茅mettre des obligations li茅es 脿 la performance durable, des obligations 脿 usage sp茅cifique (vertes, sociales, durables et bleues), des obligations permettant des paiements en nature, ainsi que des obligations index茅es sur l'UVR et le TRM. Le programme autorisera 茅galement les r茅ouvertures d'obligations et l'allocation de titres par book-building.
Depuis la premi猫re 茅mission du Programme de 900 milliards de COP en ao没t 2013, aucune 茅mission suppl茅mentaire n'a eu lieu. Ecopetrol conserve la capacit茅 d'茅mettre des obligations et des billets de tr茅sorerie suppl茅mentaires pour une valeur allant jusqu'脿 2,1 billions de COP. Ces modifications s'alignent sur la strat茅gie d'entreprise d'Ecopetrol, ax茅e sur la d茅carbonation et la transition 茅nerg茅tique, tout en 茅largissant ses options sur le march茅 des capitaux.
Ecopetrol (NYSE: EC), das gr枚脽te Energieunternehmen Kolumbiens, hat von der Finanzaufsichtsbeh枚rde Kolumbiens die Genehmigung erhalten, sein Programm zur Emission und Platzierung lokaler 枚ffentlicher Anleihen und Commercial Papers (PEC) zu 盲ndern. Die Genehmigung wurde durch die Resolution 1139 erteilt und erm枚glicht bedeutende Aktualisierungen der Anleiheemissionsm枚glichkeiten des Unternehmens.
Die wichtigsten 脛nderungen umfassen die M枚glichkeit, nachhaltigkeitsbezogene Performance-Anleihen, zweckgebundene Anleihen (gr眉n, sozial, nachhaltig und blau), Anleihen mit Sachleistungen sowie an UVR und TRM indexierte Anleihen zu emittieren. Das Programm erlaubt zudem Nachbegebungen von Anleihen und die Zuteilung von Wertpapieren durch Bookbuilding.
Seit der ersten Emission des Programms von COP 900 Milliarden im August 2013 gab es keine weiteren Emissionen. Ecopetrol beh盲lt die Kapazit盲t, zus盲tzliche Anleihen und Commercial Papers im Wert von bis zu COP 2,1 Billionen auszugeben. Die 脛nderungen stehen im Einklang mit der Unternehmensstrategie von Ecopetrol, die auf Dekarbonisierung und Energiewende setzt und gleichzeitig die Optionen auf dem Kapitalmarkt erweitert.
- Authorization to issue sustainable performance-linked bonds and specific-purpose bonds (green, social, sustainable, blue)
- Significant remaining bond issuance capacity of COP 2.1 trillion
- Enhanced flexibility with new bond types including UVR and TRM indexed bonds
- Alignment with corporate decarbonization and energy transition strategy
- No additional bond issuances made under the Program since August 2013
Insights
Ecopetrol gains flexible financing options aligned with sustainability goals, signaling preparation for future capital raising without immediate financial impact.
Ecopetrol's authorization to amend its bond program represents a strategic enhancement of its financing toolkit. The Colombian oil giant now has the flexibility to issue sustainability-linked bonds and specific-purpose bonds (green, social, sustainable, and blue), positioning it alongside global energy majors who have increasingly tapped sustainable finance markets.
The expanded program features several technical innovations that provide Ecopetrol with sophisticated financing mechanisms:
- Bonds indexed to UVR (inflation protection) and TRM (currency exchange rates), providing natural hedges against macroeconomic volatility
- Ability to accept in-kind payments from investors, potentially opening doors to novel financing structures
- Option to reopen previous issuances, allowing for increased liquidity in existing bond series
- Implementation of bookbuilding process, enabling more market-responsive pricing
Particularly noteworthy is that despite having this program since 2013, Ecopetrol has only issued
This authorization itself doesn't immediately impact Ecopetrol's balance sheet or cash position. Rather, it creates valuable optionality for future financing that aligns with the company's decarbonization strategy while potentially broadening its investor base to include ESG-focused funds who might offer more favorable terms for sustainable instruments.
This amendment, formalized through Addendum No. 5, will be incorporated into the Program's prospectus and will include the following key updates:
- Issuance, under the听PEC, of local public bonds linked to sustainable performance, as well as bonds for specific purposes (green, social, sustainable, and blue bonds);
- Issuance of bonds that allow in-kind payments by investors;
- Reopening of bond issuances carried out under the听PEC;
- Issuance of bonds indexed to the听UVR (AG真人官方 Value Unit);
- Issuance of bonds indexed to the听TRM (Representative Market Exchange Rate); and
- Allocation of securities through a book-building process.
This amendment aims to align the Program with Ecopetrol's corporate strategy for decarbonization and energy transition, while also expanding the range of alternatives available in capital markets.
It is worth nothing that since the first bond issuance under the Program in August 2013, totaling nine hundred billion Colombian pesos (
Ecopetrol will duly inform the market of any future issuances carried out under the Program.
Ecopetrol is the largest company in
This release contains statements that may be considered forward-looking statements within the meaning of Section 27A of the
For more information, please contact:
Head of Capital Markets (a)
Daniel Alexander Hurtado
Email: [email protected]听
Head of Corporate Communications (
Marcela Ulloa
Email: [email protected]听
1听Resolution 1139 was notified to听Ecopetrol by the Financial Superintendency of
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FAQ
What changes did Ecopetrol (NYSE: EC) receive authorization for in its bond program?
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When was Ecopetrol's last bond issuance under this program?
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