Ecopetrol to speed up bond sale amid Fed taper worries

|About: Ecopetrol S.A. (EC)|By:, SA News Editor

Colombia's Ecopetrol (EC) plans to issue as much as 1.5T pesos of bonds ($797M) by September amid worries that Fed tapering could draw investments away from emerging markets, Reuters reports.

EC reportedly has received regulatory approval to issue as much as 3T pesos of local bonds and another $3B overseas.

Although investors may be more interested in buying short-term debt from EC to maintain liquidity, the state-controlled company is expected to issue debt with a maturity of at least five years.