BOGOTÁ , Colombia, July 6, 2018 /PRNewswire/ -- Ecopetrol S.A. (BVC:
ECOPETROL; NYSE: EC) reports it will prepay the entire syndicated
loan it entered into in 2013 with local banks, which had
been scheduled to be amortized up to 2025.
As stipulated in the loan agreement, Ecopetrol can at any
time pay off all the principal voluntarily, with no
penalty whatsoever, subject to at least 30 calendar days' advance
notice to the lenders. Pursuant thereto, the prepayment will be
made August 6, 2018 in the total amount of
COP$1,430,333,333,333, which includes principal and interest.
This prepayment is in line with the objectives of Ecopetrol's
2020 business plan and confirms Ecopetrol's commitment to
maintaining its credit rating and increasing the return to its
shareholders.
Ecopetrol is Colombia's
largest firm and is an integrated oil company that is among the 50
largest in the world and the four largest in Latin America. In addition to Colombia, where it generates over 60% of the
country's production, it is active in exploration and production in
Brazil, Peru and the United
States (Gulf of Mexico).
Ecopetrol operates the largest refinery in Colombia, most of the country's oil-pipeline
and polyduct network, and is significantly increasing its share of
bio-fuels.
This press release contains statements relating to business
prospects, estimates of operating and financial results, and
Ecopetrol's growth prospects. All are projections, and therefore
are based solely on management's expectations of the company's
future and its continuous access to capital to finance the
company's sales plan. Achieving these estimates in the future
depends on its performance under given market conditions,
regulations, competition, performance of the Colombian economy and
industry, among other factors; therefore, they are subject to
change without prior notice.
For further information, contact:
Capital Markets Manager
María Catalina Escobar
Telephone: +571-234-5190 - Email: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio
Tellez
Telephone: + 571-234-4329 - Email:
mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.