Colombia's EPM secures Banco Itaú loan
Colombia's Empresas Públicas de Medellín (EPM) secured a 250bn-peso (US$60mn) loan from Banco Itaú to help fund its 2024 budget.
The loan has a five-year repayment term with interest tied to the interbank reference rate (IBR).
"This will allow EPM to partially complement the internal generation of funds resulting from its operations to advance the business plan for the year 2024," the multi-utility said in a regulatory filing.
EPM has previously said it expects to invest 11.7tn pesos this year compared to 5.2tn pesos in 2023.
The company's principal projects include the final phase of its Hidroituango dam, hydrogen development and electric mobility initiatives.
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