Homburger advises banks on Ecopetrol bridge loan
Homburger advised Citigroup Global Markets and JPMorgan Chase Bank on a USD 1.19 bn bridge loan agreement entered into by Colombian energy group Ecopetrol. The loan bridges the financing of Ecopetrol’s acquisition of a controlling interest in Brazil’s Brava Energia.
Deal details
The agreement involves Ecopetrol Capital as borrower and Ecopetrol as guarantor. UMB Bank, National Association acts as administrative agent, while Citigroup Global Markets and JPMorgan Chase Bank act as joint lead arrangers and joint bookrunners.
The acquisition is being carried out through Ecopetrol Investimentos do Brasil, a wholly owned subsidiary of Ecopetrol. It covers a controlling stake equivalent to approximately 51% of the outstanding voting share capital of Brava Energia.
Advisers
The Homburger team was led by Daniel Haeberli and included Simone Gloor and Samuel Fäh, all from the financing practice, as well as Stefan Oesterhelt from the Tax practice.
