This transaction, in which Scotiabank participated with US$300 million, is closed for a term of five years with amortization at maturity.

Scotiabank, with the support of its Colombian subsidiary Scotiabank Colpatria, led a Club Deal loan for US$ $ 1.2 billion for Ecopetrol, an operation that seeks to improve the company's maturity profile without increasing its total consolidated debt.

“We are grateful for the trust that Ecopetrol has placed in Scotiabank to accompany them in the development of their 2024 refinancing objectives, which will allow them to continue dedicating resources and efforts towards the development of their long-term “Energy that Transforms” strategy,” said Antonio Gutiérrez, vice president of Corporate Banking and Capital Markets at Scotiabank Colpatria.

This relevant transaction, in which Scotiabank participated with US$ 300 million, is closed for a period of five years with amortization at maturity and will be used by the company for the prepayment of a loan granted in 2021 for the same value, and where Scotiabank It also participated as a creditor bank.

The above allows Ecopetrol to manage its external public debt by improving its maturity profile by extending its average life, benefiting from competitive market rates.