Milbank LLP advised the underwriters, including J.P. Morgan Securities LLC, Scotia Capital (USA) Inc. and SMBC Nikko Securities America, Inc., in connection with Ecopetrol’s offering of $1.2 billion SEC-registered notes due 2029 and reopening of $300 million of its 8.875% SEC-registered notes due 2033.
The transaction is part of Ecopetrol’s refinancing strategy and contributed to the financing of its 2023 investment plan.
The Milbank team was led by Global Capital Markets partner Carlos Albarracín along with associates Gonzalo Guitart and Fernando Quezada, with international attorney Enrique Lopez Scherer. The team also included Tax partner Andrew Walker.
Mr. Albarracín said, “We are pleased to have once again represented the underwriters on another major international bond offering in the international market by Ecopetrol. This transaction included demand from around 200 investors that was substantially oversubscribed, which showcased the confidence of international investors in Ecopetrol.”
