Milbank LLP advised Banco Bilbao Vizcaya Argentaria Securities, Inc., Bank of America Securities, Inc. and Citigroup Global Markets, Inc., the dealer managers and underwriters in Ecopetrol’s $1.85 billion offering of the 12-year 8.375% notes due 2036 and tender offer to purchase for cash any and all of Ecopetrol’s $1.2 billion 4.125% notes due 2025. Ecopetrol is Colombia’s state-owned oil and gas company and the largest company in Colombia in terms of assets.
The Milbank deal team was led by Corporate Finance and Securities partner Carlos Albarracín, along with associates Gonzalo Guitart and José Fernando Quezada Treviño and international attorneys Pamela Molina and Enrique López Scherer. The team also included Tax partner Andrew Walker.
Mr. Albarracín said, “We are pleased to once again participate in another successful Ecopetrol transaction and the first international bond issuance by a Colombian company in 2024. This transaction will support Ecopetrol’s investment plan and energy transition strategy.”
