Monday , April 19 2021

EPM, with an external loan

Through a press release, the Ministry of Finance informed about the authorization to the Public Companies of Medellín (EPM) to carry out an external loan of up to 750 million dollars.

According to portfolio information, the proceeds will be used to finance the 2014-2022 investment plan and corporate purposes other than the company's investment. The loan was signed with HSBC Bank USA N.A and with HSBC México S.A. Multiple Banking Institution, Grupo Financiero HSBC.

As confirmed by the Ministry, of the total resources that can be used by the company, 215 million dollars will be used to finance the investment plan that the company has for the years between 2014 and 2022.

On the other hand, it was confirmed that $ 535 million of the total loan authorized for the paisa company will have "general corporate purposes other than investment-related issues," the Finance Ministry said in a statement. .

Regarding the division of the loans to EPM, the Ministry confirmed that the agreement was signed with HSBC Bank USA NA (allocated 650 million dollars) and HSBC México SA Multiple Banking Institution, Grupo Financiero HSBC, entity that delivered 100 million dollars.

Among the terms of the loan was a three-year term, from the signature of the loan, "with a LIBOR rate of six months plus 2.75% per annum and a period of availability of 30 months as of the date of maturity ". the signature of the contract ".

The company must present to the Public Credit and National Treasury Board, in the first ten calendar days of the month following the month in which it is disclosed, "all information regarding balances and movements of the operation until full payment of the debt," said the portfolio of the Treasury.

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