Ecopetrol Ties Up Ex-Im Facility

Colombian state-controlled oil producer Ecopetrol has closed a $847m loan facility, guaranteed by the US Ex-Im Bank, it says. The package includes a $420m, 7-year tranche at Libor+0.65% and a $427m 10-year tranche at Libor+0.90%. JPMorgan, Bank of Tokyo Mitsubishi, Mizuho and Citi are the lenders. Proceeds from the sale will be used to buy goods from US manufacturers. An Ecopetrol spokesman declines to comment on the specific uses.