Ecopetrol issues External Public Debt Bonds for US $ 2,000 million, demonstrating the support of its investors in a challenging environment

This Ecopetrol release was published using machine translation.

Ecopetrol SA (BVC: ECOPETROL; NYSE: EC) informs that based on the authorization issued by the Ministry of Finance and Public Credit, through Resolution 1038 of April 24, 2020, it issued and placed External Public Debt Bonds in the international capital market under the following conditions:

Issue Summary

Term

10 years

Transaction date

April 24, 2020

Issue date (t + 3)

April 29, 2020

Expiration date

April 29, 2030

Amount

USD 2 billion

Price

99,112

performance

7,000%

Coupon Rate

6,875%

Frequency of interest payments

Biannual

Rating (Moody's / S&P / Fitch)

Baa3 / BBB- / BBB-

The book of the issue reached a value of more than USD 5 billion, which is equivalent to 2.5 times what was offered and the participation of more than 250 investors from the US, Europe, Asia and Latin America.

This transaction seeks to anticipate eventual cash needs associated with a deterioration in market conditions, provide flexibility in the development of business strategy and ratify the confidence of investors in the future of Ecopetrol.

To date, based on available information and current financial projections, no additional borrowing needs are estimated for the current year.

In development of this transaction, the Company prepared a presentation for investors that can be found at the following link: https://www.ecopetrol.com.co/documentos/Ecopetrol%20Investor%20Presentation.pdf