Ecopetrol Plans First Colombia Bond Sale Since 1998
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Ecopetrol SA will probably tap local debt markets for the first time in more than a decade to help fund record investments amid rising oil demand in China, Chief Executive Officer Javier Gutierrez said.
Colombia’s state-controlled oil producer may raise $500 million in a sale of peso-denominated bonds in the fourth quarter, Gutierrez, 59, said yesterday in an interview at Bloomberg’s offices in New York. Ecopetrol may issue more debt next year, he said.