04:29 AM EDT, 10/24/2025 (MT Newswires) -- Ecopetrol ( EC ) said late Thursday that Colombia's Ministry of Finance and Public Credit authorized it to enter into a loan agreement for up to 700 billion Colombian pesos ($179.9 million) under a non-revolving committed credit line.

The loan is expected to have a five-year term, commencing from the date of the first disbursement, with a bullet repayment at maturity, and interest accruing at a variable rate.

The credit line from Banco Davivienda may be drawn during the 12 months following the execution date of the loan.

The proceeds are expected to be used for "non-investment expenditures," the company said, while adding the loan terms include "the lowest spread rate obtained by Ecopetrol ( EC ) in the local market."