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Finance Minister Bonilla Speaks, Ecopetrol Sells $1.5B Of Bonds

COLOMBIA
  • Colombia’s Finance Minister Ricardo Bonilla will participate virtually in a Eurasia Group event in Sao Paulo after opening a morning forum. The GZERO Summit Latam will zero in on the opportunities and challenges of the essential geopolitical relationship between the US, Latin America, and the world.
  • According to a report by BLU Radio, citing an Invamer Poll, President Gustavo Petro’s disapproval rose to 61% in June from 57% in April. This represents the highest disapproval rating registered by the Invamer poll since Petro became president. Petro’s approval fell to 33% in June from 35% in April. Invamer are said to have surveyed 1,200 people between June 16 and June 24.
  • Ecopetrol announced that it sold $1.5 billion of bonds in the international market as part of the company refinancing strategy. The issuance will also be part of the company’s financing investment plan in 2023. The bonds are due on Jan. 19, 2029, and Jan. 13, 2033
    • Issuance is said to have reached a value of around $3.8b, equivalent to approximately 2.5 times the amount placed and had the demand of around 200 investors. Yields were 8,625% and 9,000% respectively.

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