Colombia’s state oil company Ecopetrol will issue 800 billion pesos or $417.3 million, in local bonds this week as part of a broader investment plan, the company said on Tuesday.
The company, whose board has approved a bond issue of up to 1 trillion pesos, said the paper will have maturities of 5, 7, 10 and 30 years.
In a statement, the company said it planned to launch the bond on Wednesday.
Ecopetrol, which is 89.9 percent owned by the state, has a $80 billion investment plan to bolster its production to 1.3 million barrels per day by 2020.