The loan has been provided by a syndicate of ten Colombian Banks. Bicentenario is a special-purpose vehicle owned 55.97% by Ecopetrol S.A., 32.88 % by Pacific Rubiales Energy, 9.65% by Petrominerales, and the remainder owned by other E&P companies operating in Colombia. The credit facility will be drawn down by Bicentenario mainly for the following purposes: (i) advanced payment of part or total of the subordinated shareholders loans; (ii) to finalize the completion of Phase 1 of the project; (iii) working capital and financial costs; and (iv) general costs and expenses.