Ecopetrol S.A. ("Ecopetrol" or the "Company") announced the results of the previously announced cash tender offer (the "Offer") by Ecopetrol, to purchase any and all of its outstanding 5.375% Notes due 2026 (the "Securities").
The Offer expired on October 16, 2024, at 5:00 p.m., New York City time (the "Expiration Time"). The Offer was made solely pursuant to the Offer to Purchase (as the same was amended by means of press release published on October 16, 2024, the "Offer to Purchase") and the related Notice of Guaranteed Delivery (the "Notice of Guaranteed Delivery"), each dated October 8, 2024.
Ecopetrol was advised by Global Bondholder Services Corporation, the tender and information agent for the Offer, that the aggregate principal amount of Securities, as set forth in the table below, was validly tendered and not validly withdrawn pursuant to the terms of the Offer.
The conditions of the Offer, including the pricing and closing of Ecopetrol's concurrent offering of notes, were satisfied.
Ecopetrol accepted for purchase all Securities validly tendered and not validly withdrawn in the Offer, and paid the Total Consideration for such Securities on October 21, 2024 (the "Settlement Date"), as set forth in the table below, plus accrued and unpaid interest on such Securities from the last interest payment date to, but excluding the Settlement Date in accordance with the terms of the Offer.
Following payment for the Securities accepted pursuant to the terms of the Offer, Ecopetrol currently intends (but is not obligated) to redeem all or a portion of the Securities that remain outstanding in accordance with the terms of the Indenture governing the Securities. The Offer does not constitute a notice of redemption or an obligation to issue a notice of redemption.
BBVA Securities Inc., J.P. Morgan Securities LLC and Santander US Capital Markets LLC served as Dealer Managers (the "Dealer Managers") for the Offer.
This press release is for informational purposes only and does not constitute an offer to purchase nor the solicitation of an offer to sell any Securities. The Offer was made only pursuant to the Offer to Purchase and related Notice of Guaranteed Delivery.
No Recommendation
None of Ecopetrol, BBVA Securities Inc., J.P. Morgan Securities LLC, Santander US Capital Markets LLC, Global Bondholder Services Corporation, or the trustee or security registrar with respect to the Securities, nor any affiliate of any of the foregoing, has made any recommendation as to whether holders should tender or refrain from tendering all or any portion of their Securities in response to the Offer or expressing any opinion as to whether the terms of the Offer are fair to any holder. Please refer to the Offer to Purchase for a description of the offer terms, conditions, disclaimers and other information applicable to the Offer.
