Summary by Moomoo AI
Ecopetrol S.A., Colombia's largest integrated energy company, reported that the ordinary meetings for bondholders of its 2010 and 2013 local bonds took place on May 20, 2024. The meetings were organized by Alianza Valores Fiduciaria S.A. and Itaú Fiduciaria Colombia S.A., the representatives for the 2010 and 2013 bonds, respectively. The quorum for the 2013 bonds was 0.16%, and for the 2010 bonds, it was 5.28%. Since the required eighty percent of the outstanding bonds was not present, the meetings did not result in the approval of the statutory reform proposed by Ecopetrol's shareholders on March 22, 2024. A second call for the approval of the statutory reform is scheduled to be announced on May 21, 2024. Ecopetrol, which employs over 18,000 people, is a key player in Colombia's hydrocarbon production and has significant operations in the American continent, including the United States, Brazil, and Mexico. The company also has a majority stake in ISA, expanding its reach into energy transmission, real-time system management, and road concessions across Latin America.