(Ecopetrol, 27.Dec.2018) — Ecopetrol S.A. redeemed in advance the entire ten-year international bond issued in 2009, as it was announced in a press release on November 27, 2018.
Consistent with the bond’s conditions, the redemption price was US$1,025.48 per US$1,000 principal amount, equivalent to US$1,538,219,261.43, plus accrued interest as of the Redemption Date of US$32.62 per US$1,000 principal amount, equivalent to US$48,927,083.33, the total payment by Ecopetrol was equal to US$1,058.10 per US$1,000 principal amount, equivalent to US$1,587,146,344.76.
Taking into account this redemption, Ecopetrol has now complied with 79% of its consolidated debt amortization payments projected for 2019. The redemption generates financial savings for the Ecopetrol Group and improves the company's credit, maintaining cash flexibility to finance the Group’s operations.
This redemption is in line with the objectives of the company’s 2020 business plan and confirms Ecopetrol’s commitment to continue improving its credit rating and increasing shareholder returns.