Milbank LLP advised the underwriters in connection with Ecopetrol’s offering of $1.75 billion seven-year 7.750% notes due 2032, as well as the dealer-managers in a concurrent cash tender offer by Ecopetrol with respect to any and all of its outstanding 5.375% notes due 2026.
Ecopetrol is Colombia’s state-owned oil and gas company and the largest company in Colombia in terms of assets.
This marks Milbank’s fourth deal advising the banks on transactions by Ecopetrol this year. The firm represented the underwriters in Ecopetrol’s $1.85 billion SEC-registered bond offering and tender offer, as well as the lenders to Ecopetrol in a $1.2 billion unsecured term loan and a $250 million unsecured term loan.
The Milbank deal team was led by Corporate Finance and Securities partner Carlos Albarracín with associates Gonzalo Guitart, Fernando Quezada and Enrique Lopez Scherer and international attorneys Tomas Montes Miquel and Jose Ernesto de la Peña. The team also included Tax partner Andrew Walker.
