BOGOTA,
Colombia, Aug. 21, 2024 /PRNewswire/ -- Ecopetrol
S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company")
announces that the Ministry of Finance and Public Credit ("MHCP")
has authorized Ecopetrol to execute a loan agreement for up to
two-hundred fifty million dollars
through Resolution 2476 dated August 20,
2024.
The loan is expected to be executed by and between the Company,
as borrower, and Sumitomo Mitsui Banking Corporation, as lender.
The term of the loan is expected to be five years, with the
principal payable at maturity and a variable interest rate. The
proceeds from this transaction are expected to be allocated to
non-investment expenses, including the repayment of financial
commitments maturing 2026.
According to the procedure outlined in the contract, the MHCP
reviewed and authorized the terms, which anticipate borrower
default events such as non-payment or failure to fulfill
obligations. If these events materialize, the lenders may demand
early repayment. Additionally, Ecopetrol may seek recourse if the
agreed disbursements are not made. All of the above is in
compliance and will be governed by the laws of the State of New York.
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)
Lina María Contreras Mora
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.