Wednesday , October 27 2021

EPM, with a way for an external loan


Through a press release, the finance ministry informed Empress Publishers de Medellin's (EPM) authorization to have an external loan of up to $ 750 million.

According to the information in the portfolio, the funds will be used to finance the investment plan 2014-2022 and corporate goals, except for the company's investments. The loan was signed with HSBC Bank USA NA and HSBC Mexico SA. Multiple banking institution, Grupo Financiero HSBC.

As confirmed by the Ministry, of the total resources the company can use, $ 215 million will be directed to financing the investment plan the company has for the years between 2014 and 2022.

On the other hand, it was confirmed that $ 535 million of the total loan granted to the company paisa would have "general corporate objectives other than investment issues," the finance ministry said via the same press release.

Regarding the division of EPM loans, the ministry confirmed that the agreement was signed with HSBC Bank USA NA (assigned $ 650 million) and HSBC Mexico SA. A multiple banking institution, Grupo Financiero HSBC, an entity that delivered $ 100 million.

A three-year mandate was set among the terms of the loan, "with a six-month lobby rate plus 2.75% per annum and a 30-month availability period calculated from the date of signing the contract."

The company must submit to the Directorate of Public Debt and National Finance in the first ten calendar days of the month following the month in which it is declared, "all information regarding the situation and movements of the operation until the total payment of the debt," said the portfolio of Ministry of Finance.

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