Results Of Ecopetrol S.A.'s External Public Debt Bond Placement

BOGOTA, Colombia, May 21, 2014 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) announces the results of the external public debt bond placement carried out today:

  • Term: 31 years (maturity date 2045)
  • Amount placedTwo billion dollars (US$2, 000,000,000)
  • Expected date of issuance: May 28, 2014
  • Credit Rating:
    • Moody's Investors Service: Baa2
    • Standard & Poor's Ratings Services: BBB
    • Fitch Ratings: BBB
  • Amortization of principal: At maturity

Summary of the Ecopetrol S.A. External Public Debt Bond Issuance

Term:

31 years

Maturity date:

May 28, 2045

Amount:

US$2 billion

Price:

99.336

Yield:

5.922%

Spread to Benchmark U.S. Treasury Bond:

255 basis points

Coupon rate:

5.875%

Interest payment date:

May 28 and November 28, commencing on November 28, 2014

Ecopetrol S.A. will use the proceeds obtained from this issuance primarily for general corporate purposes, including capital expenditures.

Ecopetrol is Colombia's largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 50 oil companies in the world and the fourth largest oil company in Latin America. The Company is also involved in exploration and production activities in Brazil, Peru and the United States Gulf Coast, and owns the main refineries in Colombia, most of the network of oil and multiple purpose pipelines in the country, petrochemical plants, and is entering into the biofuels business.

This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Ecopetrol. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, among other factors; therefore, they are subject to change without prior notice.

Contact us for any additional information:

Investor Relations
Alejandro Giraldo
Phone: +571-234-5190
Email: investors@ecopetrol.com.co 

Media Relations (Colombia)
Mauricio Tellez
Phone: + 571-2345377
Email: mtellez@ecopetrol.com.co

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SOURCE Ecopetrol S.A.



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