Ecopetrol Announces Results of External Public Debt Bond Placement
OREANDA-NEWS. Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) announces the results of the external public debt bond placement carried out today:
Term: 10 years and 4 months
Amount placed: One billion two hundred million dollars (USD 1,200,000,000)
Date of offering: September 9, 2014
Credit Rating:
• Moody's Investors Service: Baa2
o 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: 10 years and 4 months
Maturity date: January 16, 2025
Amount: USD 1,200,000,000
Price: 99.001
Yield: 4.246%
Spread to Benchmark U.S. Treasury Bond: 175 basis points
Coupon rate: 4.125%
Interest payment date: January 16, July 16
Ecopetrol S.A. will use the proceeds obtained from this issuance 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.
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