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UPDATE 2-Colombia's Ecopetrol says to offer US dollar bonds

Fri Jul 10, 2009 10:13am EDT

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BOGOTA/NEW YORK, July 10 (Reuters) - Colombia's state-controlled oil company Ecopetrol ECO.CN will offer bonds denominated in U.S. dollars to help finance its 2009 investment plan, the firm said in a statement.

Barclays Capital (BARC.L) and JP Morgan Chase & Co. (JPM.N) are lead managers of the deal, which a source at one of the lead managers said would be benchmark size. Typically that implies a deal of $500 million or greater.

Ecopetrol's statement did not specify the amount to be offered or the timing of the planned transaction.

The marketing roadshow is scheduled to take place July 13-15 with teams giving presentations in New York, Boston, Los Angeles, San Francisco and London, the source said.

Ecopetrol shares slumped 1.2 percent to 2,475 pesos per share in early trading. The company announced the bond sale before the market opened.

Ecopetrol is rated "BB plus" by Fitch Ratings with a stable outlook. (Reporting by Nelson Bocanegra in Bogota and Daniel Bases in New York; Editing by Theodore d'Afflisio)



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