Ecopetrol S.A. to prepay international loans guaranteed by US Exim Bank for a nominal amount of USD $156 million

Ecopetrol S.A. to prepay international loans guaranteed by US Exim Bank for a nominal amount of USD $156 million

BOGOTÁ, Colombia, June 20, 2018 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports it will prepay all loans entered into in 2013 with international banks and guaranteed by the US Export-Import Bank, which had been subject to a payment schedule to 2023.

The loan agreements allow Ecopetrol to prepay without penalty all principal on the interest payment dates, which are scheduled for July 6 and 25, 2018. Total principal plus accrued interest owed is USD 155,979,564.

The Ecopetrol Group is able to make this prepayment as a result of its solid cash position of COP 16.6 billion as of the first quarter of 2018. This position is projected to remain robust, allowing the company to address crude price volatility scenarios and be prepared to seize any opportunities that might arise for inorganic growth.

This prepayment is in line with the objectives of the Company's 2020 business plan and confirms Ecopetrol's commitment to continue to improve its credit rating and increase shareholder returns.

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 contact:

Capital Markets Manager (e)
Francisco Pinilla Ortiz
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.