Ecopetrol Reports on the Authorization Received from the Ministry of Finance and Public Credit
April 14, 2015 at 19:19 PM EDT
April 14, 2015, BOGOTA,Colombia /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) hereby reports that, as part of the procedures required for keeping available debt alternatives to finance its investment plan, it has obtained authorization from the Ministry of Finance and Public Credit, pursuant to Resolution 0928 of April 10, 2015, to arrange for debt issuances in international capital markets in an aggregate amount of up to three-billion one-hundred-and-seventy-five million dollars (US$3,175,000,000).
This authorization in itself does not constitute an issuance of securities or a financing operation. Therefore, Ecopetrol must complete in due course all of the necessary approval procedures with the Ministry of Finance and Public Credit, as well as Ecopetrol's own Board of Directors, before any debt issuance may be covered by this authorization.
This announcement is not an offer for sale of or a solicitation of any offer to buy any securities of Ecopetrol in any transaction. If and when issued, the securities will not be registered under the US Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States absent registration with the US Securities and Exchange Commission or pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable securities laws.
Ecopetrol is the largest company in Colombia and is an integrated oil and gas company; it is among the top 40 oil companies in the world and among the top four oil companies in Latin America. Besides Colombia – where it generates over 60% of the national production – it has exploration and production activities in Brazil, Peru, the US (Gulf of Mexico) and Angola. Ecopetrol owns the largest refinery in Colombia, most of the pipeline and multi-product pipeline network in the country, and is significantly increasing its participation in bio-fuels.
This release contains statements that may be considered forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil and gas, our exploration and production activities, market conditions, applicable regulations, the exchange rate, Ecopetrol's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend, and do not assume any obligation to update these forward-looking statements.
For further information, please contact:
Investor Relations Director (A)
Media Relations (Colombia)
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ecopetrol-reports-on-the-authorization-received-from-the-ministry-of-finance-and-public-credit-300065995.html
SOURCE Ecopetrol S.A.