Through a press release, the Ministry of Finance informed about the authorization to Empresas Públicas de Medellín (EPM) to hold an external loan of up to 750 million dollars.
According to information in the portfolio, resources will be used to finance the 2014-2022 investment plan and the company's objectives other than the company's investment. This loan was signed with HSBC Bank USA N.A and HSBC México S.A. Several Banking Institutions, Grupo Financiero HSBC.
As emphasized by the Ministry, of the total resources that can be used by the company, 215 million dollars will be aimed at financing the company's investment plans for years between 2014 and 2022.
On the other hand, it is ensured that 535 million dollars, of the total loans given to Paisa companies, will have "general corporate objectives that are different from those related to investment," the Ministry of Finance said, through the same press release. .
Regarding loan distribution for EPM, the Ministry confirmed that the agreement was signed with HSBC Bank USA N.A (allocated 650 million dollars) and HSBC México S.A. Several Banking Institutions, Grupo Financiero HSBC, an entity that produces 100 million dollars.
Among the conditions of the loan are a period of three years, from the same signing, "with a six-month freedom rate plus 2.75% per year and a 30-month availability period calculated from the date of signing the contract."
The company must be present at the Directorate of Public Credit and the Ministry of National Finance, within the first ten calendar days of the following month after the month in which it was reported, "all information regarding balance and operating movements until total debt payments", said the Treasury portfolio.