EPM returns to the international market and places USD 1 billion in bonds to finance its strategy through 2027

Empresas Públicas del Medellín (EPM) carried out its seventh bond placement in the international capital market for an amount of USD 1 billion.

This transaction, which is expected to close with the issuance of the bonds on November 10, 2026, marks the Company's return to these financial markets after six years and reaffirms investor confidence in its performance, financial strength, and future prospects.

This placement and the planned bond issuance will strengthen the Company's liquidity, address its medium-term financial needs, and contribute to the sustainability necessary to continue providing public services with quality, reliability, and continuity. The transaction is part of a responsible and proactive financial strategy aimed at meeting the Company's corporate needs and advancing the pre-funding requirements projected for 2027.

“Our business strategy combines sustainability, financial discipline, and value creation for society. The response from international investors confirms the confidence that EPM inspires, the strength of our business model, and our ability to continue generating well-being and development in the territories where we operate,” said John Maya Salazar, CEO of EPM.

International support for EPM's strategy

The bond issuance, which took place on Thursday, November 5, received orders from a diversified group of investors in the United States, Canada, Europe, Asia, and Latin America. Once issued at the close of the transaction, the bonds will consist of a seven-year tranche denominated in US dollars for a total of USD 1 billion, maturing in 2033.

“The issuance will strengthen our financial position, expand our flexibility to face the challenges of the energy sector and allow us to anticipate the future needs of the company, guaranteeing the continuity and quality of public services for millions of people,” said John Maya Salazar, CEO of EPM.

This result is especially relevant in an environment marked by challenges for the energy sector and by the volatility of international markets, demonstrating investors' confidence in EPM's ability to manage these challenges and continue executing its long-term business strategy.

A placement backed by the highest international standards

The placement was preceded by a rigorous due diligence process conducted under international standards, which assessed the company's financial, operational, legal, regulatory, and sustainability aspects. This analysis was supported by the auditing firm Ernst & Young and risk rating agencies, as well as local and international legal counsel; for the latter, EPM received specialized support from Clifford Chance US LLP and Mosquera Abogados.

Baa3 Investment Grade Bonds

In line with this support, Moody's Ratings assigned an Investment Grade rating of Baa3 to the bonds to be issued, matching EPM's current strong international rating. The agency's report highlights EPM's robust market position, its strategic importance to the region, and the appropriate diversification of its public utility operations.

The analysis also considers sectoral hydrological challenges through 2027, a reality to which EPM is responding proactively with this transaction to safeguard its cash flow and maintain its financial stability. Fitch Ratings assigned the same BB rating to the issuer and highlighted the strength of EPM's asset base and the maturity of its regulated markets.

It's worth recalling that, as Energía Estratégica previously reported, EPM was awarded 285 MW of solar power in Colombia's latest auction, corresponding to the Andes and Yariquíes projects. The company aims to reach 1,000 MW of photovoltaic capacity by 2030 and is evaluating the incorporation of battery storage systems into its new developments. This expansion is complemented by the planned addition of 1,200 MW of hydroelectric power from Hidroituango between late 2027 and early 2028, as part of its strategy to diversify its energy generation mix.