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ECOPETROL Announces Terms of International Notes Due 2019

BOGOTA, July 16 /PRNewswire-FirstCall/ -- Ecopetrol, S.A. (BVC: ECOPETROL; NYSE: EC), the Colombian integrated natural gas and oil company, announces that it has priced US$ 1.5 billion of unsecured senior debt under Rule 144A / Regulation S with registration rights due 2019 in the international market, under the following terms:

  • Coupon: 7.625%

  • Issue Price: 99.642%

  • Make-Whole to American Treasury Note: 50 basis points

  • Interest Payment Dates: July 23 and January 23 of each year, beginning on January 23, 2010

  • Maturity Date: July 23, 2019

  • Denomination and multiples: US$1,000 / US$1,000

(Logo: http://www.newscom.com/cgi-bin/prnh/20090209/ARM001LOGO )

The funds will be used for the financing of the Business Plan 2009-2015.

The notes have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Bogota, Colombia July 16 of 2009

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Ecopetrol is Colombia's largest integrated oil company and is among the top 40 oil companies in the world and the four largest oil companies in Latin America. Besides Colombia, where it accounts for 60% of total production, the Company is involved in exploration and production activities in Brazil, Peru and the United States (Gulf of Mexico). Ecopetrol has the principal refinery in Colombia, most of the network of oil and multiple purpose pipelines in the country, and it is considerably increasing its participation in biofuels.

This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Ecopetrol. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, among other factors; therefore, they are subject to change without prior notice.

Website: www.ecopetrol.com.co

SOURCE Ecopetrol S.A.

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