BOGOTA, Colombia, June 3 /PRNewswire-FirstCall/ -- Ecopetrol S.A. has reported
that it has entered into a loan facility with a group of local banks in the
amount of COL$ 2.2 billion under the following terms:
(Logo: http://www.newscom.com/cgi-bin/prnh/20090209/ARM001LOGO )
-- Term of Facility: 7 years, including a 2-year grace period
-- Rate: DTF (fixed term deposit) + 4% (anticipated quarterly rate)
-- Amortization: Bi-annual
-- Guarantee: (coverage: 1.2 times) Stock pledge of Oleoducto Central
S.A.
(Ocensa), Refineria de Cartagena S.A. (Reficar), and Polipropileno del
Caribe S.A. (Propilco), companies in which Ecopetrol has either direct
or indirect equity interests.
-- Use of Proceeds: Company's investment program.
-- Participating banks:
BANK NAME SHARE
BANCOLOMBIA 33.8%
DAVIVIENDA 20.3%
BANCO DE BOGOTA 10.4%
BANCO AGRARIO 8.9%
BBVA 8.1%
BANCO DE OCCIDENTE 4.5%
BANCO POPULAR 5.3%
BANCO SANTANDER 2.7%
BANCO COMERCIAL AV VILLAS 2.3%
BANCO DE CREDITO 2.9%
COLMENA 0.9%
TOTAL 100.0%
Ecopetrol is Colombia's largest company and it is integrated in the petroleum
chain, positioned among the top 40 oil companies in the world and the four
major oil companies in Latin America. Besides Colombia, where over 60% of
domestic production is concentrated, it is involved in exploration and
production activities in Brazil, Peru and the United States (Gulf of Mexico).
Ecopetrol owns the main refinery in Colombia, most of the network of oil and
multiple purpose pipelines in the country, and it is considerably increasing
its share in biofuels.
This notice contains statements regarding perspectives of the business,
operations and financial results estimates, and information concerning the
growth perspectives of Ecopetrol. All of the foregoing are projections and,
as such, exclusively based on the expectations of management as to the future
of the company and its continuous access to capital for financing its
commercial plan. The materialization of said estimates in the future will
depend on market conditions, regulations, competition, and performance of the
Colombian economy and industry, among other factors; therefore, they are
subject to change without prior notice.
Web Site: www.ecopetrol.com.co
SOURCE Ecopetrol S.A.
Investor Relations Office: Alejandro Giraldo, +571-234-5190,
investors@ecopetrol.com.co; Media Relations (Colombia): Mauricio Tellez,
+571-234-5377, or fax, +571-234-4480, mtellez@ecopetrol.com.co, both of
Ecopetrol S.A.
