BOGOTA, Colombia, June 10, 2016 /CNW/ -- Ecopetrol S.A. (BVC:
ECOPETROL; NYSE: EC) reports that, on June
8, 2016, based on the authorization granted by the Ministry
of Finance and Public Credit (Resolution 1657 of June 7, 2016) to subscribe, issue and place
External Public Debt Bonds in the international capital markets, it
reopened its 2023 Bond for US$500
million, with the following results:
- Maturity Date: September 18,
2023
- Total Amount Issued: Five hundred million dollars (US$500,000,000)
- Offering Date: June 8,
2016
- Settlement Date: June 15,
2016
- Credit Rating:
- Moody's Investors Service: Baa3
- Standard & Poor's Ratings Services: BBB
- Fitch Ratings: BBB
- Amortization of Principal: Upon
maturity
- Reopening Price: US$101.612
- Reopening Yield: 5.600%
- Coupon Rate: 5.875%
- Interest Payment Dates: September
18 and March 18, beginning on
September 18, 2016
The offering had an order book of US$1.7
billion or 3.4 times the amount offered and participation of
more than 130 institutional investors from the USA, Europe,
Asia and Latin America. This transaction ratifies
investors' confidence in the decisions that have been made to face
the pricing environment and Ecopetrol's future.
The resources obtained will be used for general corporate
purposes, including the Company's investment plan for the current
year. With this operation, the Company has achieved financing for
2016 in an amount totaling approximately US$1.27 billion, covers most of the Company's
projected financing needs for 2016.
This offering was made pursuant to a shelf registration
statement on Form F-3 that was filed with and declared effective by
the Securities and Exchange Commission ("SEC"). This press release
does not constitute an offer to sell or a solicitation of an offer
to buy, nor shall there be any sale of these securities in any
state or jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
This offering was made by means of a prospectus supplement
and related prospectus. The final prospectus supplement relating to
the offering has been filed with the SEC and is available on its
website at www.sec.gov.
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Ecopetrol is the largest company in Colombia and is an integrated oil & gas
company; it is among the top 50 oil companies in the world and
among the four top ones in Latin
America. Besides Colombia -
where it generates over 60% of the national production - it has
exploration and production activities in Brazil, Peru
& the US (Gulf of Mexico).
Ecopetrol owns the largest refinery in Colombia and most of the pipeline and
multi-product pipeline network in the country, and is significantly
increasing its participation in bio-fuels.
This release contains statements that may be considered
forward looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933 and Section 21E of the U.S. Securities
Exchange Act of 1934. All forward-looking statements, whether made
in this release or in future filings or press releases or orally,
address matters that involve risks and uncertainties, including in
respect of the Company's prospects for growth and its ongoing
access to capital to fund the Company's business plan, among
others. Consequently, changes in the following factors, among
others, could cause actual results to differ materially from those
included in the forward-looking statements: market prices of oil
& gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, the
Company's competitiveness and the performance of Colombia's economy and industry, to mention a
few. We do not intend, and do not assume any obligation to update
these forward-looking statements.
For further information, please
contact:
Head of Corporate Finance and Investor Relations
(A)
Lina María Contreras
Mora
Phone: (+571) 234 5190
E-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio Tellez
Phone: + 571-234-4329
E-mail: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.