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v3.25.1

Loans and borrowings (Tables) | 12 Months Ended
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Dec. 31, 2024
Loans and borrowings |
Schedule of composition of loans and borrowings | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted average effective | ​ | ​ | ​ | ​
​ | ​ | interest rate as of December 31 | ​ | 2024 | ​ | 2023
​ |  | 2024 |  | 2023 |  | ​ |  | ​
Local currency (1) | ​ |  | ​ |  | ​ |  | ​ |
Bonds |  | 9.8 | % | 12.4 | % | 5,193,284 |  | 5,172,256
Commercial and syndicated loan |  | 11.7 | % | 12.9 | % | 5,301,424 |  | 4,323,198
Lease liabilities | ​ | 9.2 | % | 8.9 | % | 876,234 | ​ | 922,536
​ |  | ​ | ​ | ​ | ​ | 11,370,942 |  | 10,417,990
Foreign currency (1) |  |  |  |  |  |  |  |
Bonds |  | 7.0 | % | 6.4 | % | 88,881,027 |  | 72,774,985
Commercial and syndicated loans |  | 6.5 | % | 7.2 | % | 18,253,490 |  | 21,478,503
Loans from related parties (Note 31) |  | 6.0 | % | 6.0 | % | 829,334 |  | 683,949
Lease liabilities |  | 6.5 | % | 6.0 | % | 630,238 |  | 460,100
​ |  | ​ | ​ | ​ | ​ | 108,594,089 |  | 95,397,537
​ |  | ​ | ​ | ​ | ​ | 119,965,031 |  | 105,815,527
Current |  | ​ | ​ | ​ |  | 11,287,944 |  | 15,550,008
Non–current |  | ​ | ​ | ​ |  | 108,677,087 |  | 90,265,519
​ |  | ​ | ​ | ​ | ​ | 119,965,031 |  | 105,815,527
(1) | During 2024, Ecopetrol S.A. implemented a set of strategic financing operations to optimize its debt structure, reduce costs, and strengthen the Company’s liquidity. The main transactions include:
| a) | Contracting of a local loan with banks of Grupo Aval for COP $1 trillion for a term of 7 years, resources destined to finance the bonds maturing in 2026 through the execution of the early redemption mechanism called make-whole.
| b) | Renegotiation of the local loan contracted with Bancolombia for COP $1 trillion, achieving a reduction in the interest rate and generating financial savings.
| c) | Issuance of External Public Debt Bonds in the international capital market on January 9, 2024, for USD$1,850 million for a term of 12 years with a rate of 8.375%, resources intended to finance the repurchase of bonds maturing in 2025 and cover nearby debt maturities, mitigating the refinancing risk and improving the Company’s maturity profile.
| d) | Issuance of External Public Debt Bonds in the international capital market on October 21, 2024, for USD$1,750 million for a term of 7.3 years with a rate of 7.75%, resources intended to finance the total repurchase of bonds maturing in 2026 and the total and early payment of the credit contracted in September 2023 with international banks.
| e) | Refinancing of the Committed Line by contracting an external credit for USD$1,200 million for a term of 5 years, improving the maturity profile of the debt.
| f) | Contracting of an external loan with the Sumitomo Mitsui Banking Corporation for USD$250 million for a term of 5 years, resources intended to partially replace the international loan contracted in September 2023, allowing to improve the debt profile and reduce the financial cost.
Schedule of maturity of loans and borrowings | The following are the maturities of loans and borrowing as of December 31, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Up to 1 |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | year | ​ | 1 – 5 years |  | 5-10 years |  | > 10 years |  | Total
Local currency |  |  |  |  |  |  |  |  |  |
Bonds |  | 374,791 | ​ | 1,255,832 | ​ | 1,385,204 | ​ | 2,177,457 | ​ | 5,193,284
Commercial and syndicated loan |  | 553,574 | ​ | 3,298,708 | ​ | 1,324,142 | ​ | 125,000 | ​ | 5,301,424
Lease liabilities | ​ | 225,327 | ​ | 441,420 | ​ | 208,619 | ​ | 868 | ​ | 876,234
​ |  | 1,153,692 | ​ | 4,995,960 | ​ | 2,917,965 | ​ | 2,303,325 | ​ | 11,370,942
Foreign currency |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Bonds |  | 5,548,061 | ​ | 24,885,853 | ​ | 37,936,556 | ​ | 20,510,557 | ​ | 88,881,027
Commercial and syndicated loans |  | 3,631,745 | ​ | 13,827,493 | ​ | 461,881 | ​ | 332,371 | ​ | 18,253,490
Lease liabilities |  | 125,112 | ​ | 250,546 | ​ | 205,240 | ​ | 49,340 | ​ | 630,238
Loans from related parties | ​ | 829,334 | ​ | — | ​ | — | ​ | — | ​ | 829,334
​ |  | 10,134,252 | ​ | 38,963,892 | ​ | 38,603,677 | ​ | 20,892,268 | ​ | 108,594,089
​ |  | 11,287,944 | ​ | 43,959,852 | ​ | 41,521,642 | ​ | 23,195,593 | ​ | 119,965,031
​ The following are the maturities of loans and borrowing as of December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Up to 1 |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | year | ​ | 1 – 5 years |  | 5–10 years |  | > 10 years |  | Total
Local currency |  |  |  |  |  |  |  |  |  |
Bonds |  | 580,737 | ​ | 1,330,184 | ​ | 1,411,988 | ​ | 1,849,347 | ​ | 5,172,256
Commercial and syndicated loan |  | 772,216 | ​ | 1,929,871 | ​ | 1,262,816 | ​ | 358,295 | ​ | 4,323,198
Lease liabilities | ​ | 245,673 | ​ | 452,320 | ​ | 223,372 | ​ | 1,171 | ​ | 922,536
​ |  | 1,598,626 | ​ | 3,712,375 | ​ | 2,898,176 | ​ | 2,208,813 | ​ | 10,417,990
Foreign currency |  | ​ |  | ​ |  | ​ |  | ​ |  | ​
Bonds |  | 4,147,341 | ​ | 28,047,668 | ​ | 24,479,647 | ​ | 16,100,329 | ​ | 72,774,985
Commercial and syndicated loans |  | 9,023,629 | ​ | 10,639,912 | ​ | 1,524,418 | ​ | 290,544 | ​ | 21,478,503
Loans from related parties | ​ | 683,949 | ​ | — | ​ | — | ​ | — | ​ | 683,949
Lease liabilities |  | 96,463 | ​ | 146,826 | ​ | 145,956 | ​ | 70,855 | ​ | 460,100
​ |  | 13,951,382 | ​ | 38,834,406 | ​ | 26,150,021 | ​ | 16,461,728 | ​ | 95,397,537
​ |  | 15,550,008 | ​ | 42,546,781 | ​ | 29,048,197 | ​ | 18,670,541 | ​ | 105,815,527
Schedule of Breakdown by type of interest rate and currency | ​
​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
Local currency |  |  |  |
Fixed rate |  | 1,799,807 | ​ | 2,030,378
Floating rate |  | 9,571,135 | ​ | 8,387,612
​ |  | 11,370,942 | ​ | 10,417,990
Foreign currency |  | ​ | ​ | ​
Fixed rate |  | 83,480,636 | ​ | 70,956,700
Floating rate |  | 25,113,453 | ​ | 24,440,837
​ |  | 108,594,089 | ​ | 95,397,537
​ |  | 119,965,031 | ​ | 105,815,527

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