Ecopetrol’s $4 Billion Financing

Shearman & Sterling and Baker Mckenzie advised Ecopetrol on the transaction.
Milbank and Gómez-Pinzón Abogados advised The Bank of Nova Scotia (Scotiabank), J.P. Morgan Chase Bank, N.A.; Citibank, N.A. and Banco Santander, S.A.

Ecopetrol S.A. entered into an external credit loan with international banks for up to four billion dollars (US$ 4,000,000,000), whose exclusive purpose will be to finance the acquisition of 569,472,561 shares of Interconexión Eléctrica S.A. ESP (“ISA”) equivalent to 51.4% of its outstanding shares, which represents 100% of the stake that MHCP has in ISA.

The lenders under the credit facility are Banco Santander, S.A., Citibank, N.A., JPMorgan Chase Bank, N.A. and The Bank of Nova Scotia, each with a 25% participation.

In US, Shearman & Sterling advised Ecopetrol S.A. with Cynthia Urda Kassis, Christine Fiedler and Camila De Lasa.

In Colombia, Baker Mckenzie advised Ecopetrol S.A. with Ricardo Trejos Robledo (Picture), Mónica Cubillos and Joshua Daza.

Milbank advised The Bank of Nova Scotia (Scotiabank), J.P. Morgan Chase Bank, N.A., Citibank, N.A. and Banco Santander, S.A. with Jaime E. Ramírez and Nicolás Ocampo.

In Colombia, Gómez-Pinzón advised The Bank of Nova Scotia (Scotiabank), J.P. Morgan Chase Bank, N.A., Citibank, N.A. and Banco Santander, S.A. with Ricardo Fandiño De la Calle, Germán Villamil Pardo and Tonia Orozco Araújo.

Involved fees earner: Joshua Daza – Baker McKenzie; Ricardo Trejos Robledo – Baker McKenzie; Ricardo Fandiño De La Calle – Gómez-Pinzón; Tonia Orozco Araújo – Gómez-Pinzón; Germán Villamil-Pardo – Gómez-Pinzón; Nicolás Ocampo – Milbank LLP; Jaime Ramirez – Milbank LLP; Christine Fiedler – Shearman & Sterling; Cynthia Urda Kassis – Shearman & Sterling;

Law Firms: Baker McKenzie; Gómez-Pinzón; Milbank LLP; Shearman & Sterling;

Clients: Banco Santander Sa; Citibank; Ecopetrol SA; JP Morgan Chase & Co.; Scotiabank;