The financing has been divided into two disbursements by Blue Earth Capital, an Swiss-based investment fund that focuses sustainable and impact-oriented financing.
The move further weakens Colombia’s precarious financial position brought on by the COVID-19 pandemic, causing an almost 7% contraction in the country’s economy. Fitch may likely downgrade Colombia as well, as the country already sits at the firm’s lowest investment grade before...
Tecnoglass (NASDAQ: TGLS) just closed on a $300 million USD credit facility from a syndicate of banks. In this Finance Colombia exclusive interview with CFO Santiago Giraldo, he also explains the company's innovative stock-for-land real estate deal for the site of their new...
With a new $300 million USD senior secured credit facility consisting of a $250 million delayed draw term loan and a $50 million committed revolving credit facility, Tecnoglass expands its borrowing capacity, significantly reduces cost of capital, lowers interest expense by an...
Bancoldex, Colombia’s development bank, has announced a new $50 million line of credit for microenterprises and small businesses to finance projects that reduce greenhouse gases, adapt to climate change, or mitigate environmental impact. The credit like has a term of up to 3...
Ecopetrol says it may draw upon the credit line to strengthen its "liquidity position in the face of eventual growth opportunities" or "mitigate risks associated to unexpected fluctuations in crude prices."
Following an initial eight-month term, the credit facility is expected to be extended to two years “upon satisfaction of certain extension conditions."
The early payment is the result of what Ecopetrol called a “solid cash position" that left it with more than $6 billion USD on hand at the end of the first quarter.