Cuatrecasas advises banks on ETB debt refinancing

Cuatrecasas has represented lenders Davibank, Itaú Colombia, Bancolombia, and Banco Santander Colombia on the restructuring of COP 900 billion in existing debt owed by Empresa de Telecomunicaciones de Bogotá (ETB). The aim was to adjust the financing terms to ease cash flow pressure and strengthen the company’s long-term financial sustainability.

The transaction does not increase ETB’s debt, as the outstanding balance remains the same. The main change concerns maturity: ETB’s average debt maturity extends from three to five years, and the deal introduces a two-year grace period for principal repayments.

The new terms are expected to free up approximately COP 723 billion for investment in implementing ETB’s transformation plan.

Partner Juan Carlos Puentes (pictured) led the Cuatrecasas team. The Finance team comprised lawyers Andrés Herrera, Pablo Amorocho and Juliana Álvarez. Manuel Gómez and Carlos Méndez advised on Public Law, while Margarita Llorente covered Real Estate.