BOGOTA, March 13 (Reuters) - Colombia’s state-run oil company Ecopetrol will pre-pay $350 million worth of 5-year international bonds in April, taking advantage of available cash, the company said on Tuesday.
The debt, issued in 2013, will be paid to investors on April 13, Ecopetrol said in a statement. Payment was originally scheduled for September.
“It is expected the cash position of the company will continue at high levels of solidity, allowing it to confront volatility in crude prices, keep up investment in organic growth and have the possibility of potential inorganic growth opportunities for reserves acquisitions,” the statement said.
The country’s finance minister Mauricio Cardenas said last month that Ecopetrol has between $4 billion and $5 billion in cash in hand that could be used for additional repayment of external debt. (Reporting by Julia Symmes Cobb; editing by Diane Craft)