BOGOTA,
Colombia, Oct. 10, 2024 /PRNewswire/ -- Ecopetrol
S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company")
announces that to continue with its integral debt management
strategy, it plans to prepay on October 18,
2024, USD 500 million out of
the USD 1,000 million outstanding
balance of that certain loan agreement executed with international
banks in September 2023 and maturing
in September 2030 (the "2030
Loan").
Ecopetrol plans to prepay the 2030 Loan with the funds from the
external credit of USD 250 million
executed with Sumitomo Mitsui Banking Corporation (announced
through relevant information on August 21,
2024) and available cash on hand for USD 250 million.
This prepayment is expected to reduce the Company's financial
expenses and is a result of Ecopetrol's solid cash position and
ability to manage and optimize its financing sources.
The prepayment confirms Ecopetrol's commitment to continue
improving its credit metrics and increasing shareholder
returns.
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Ecopetrol is the largest company in Colombia and one of the main integrated energy
companies in the American continent, with more than 19,000
employees. In Colombia, it is
responsible for more than 60% of the hydrocarbon production of most
transportation, logistics, and hydrocarbon refining systems, and it
holds leading positions in the petrochemicals and gas distribution
segments. With the acquisition of 51.4% of ISA's shares, the
company participates in energy transmission, the management of
real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the
international level, Ecopetrol has a stake in strategic basins in
the American continent, with Drilling and Exploration operations in
the United States (Permian basin
and the Gulf of Mexico),
Brazil, and, through ISA and its
subsidiaries, Ecopetrol holds leading positions in the power
transmission business in Brazil,
Chile, Peru, and Bolivia, road concessions in
Chile, and the telecommunications
sector.
For more information, please contact:
Head of Capital Markets (a)
Cristhian Prado Castillo
Email: investors@ecopetrol.com.co
Head of Corporate Communications
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co
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SOURCE Ecopetrol S.A.