Colombia’s state-owned oil company Ecopetrol will reduce the size of its upcoming bond issue to $4
billion from $8.1 billion, the company said on Monday.
The proposal for the bond sale will be presented to
Ecopetrol shareholders on March 26.
“The original intention was to ask shareholders for
permission to sell a bond for $8.1 billion. Now we plan to ask
to sell a bond for $4 billion. Later we will consider whether
to increase that amount,” a company spokesman said.
Even at $4 billion, the issue would still be the largest
corporate bond ever sold in Colombia.