Ecopetrol S.A. has closed a liability management transaction and a loan agreement, for COP$1.84 trillion, with seven Colombian banks. The terms and conditions are the following:

• Principal Amount: COP$1.84 trillion • Interest Rate: DTF*+2.5 (anticipated quarterly rate) • Maturity: twelve years with a three-year grace period • No guarantees • Use of the proceeds: ◦ COP$1.55 trillion: Liability management to repay in full an outstanding loan extended by Colombian banks in 2009. ◦ COP$0.284 trillion: New funds for Ecopetrol S.A.'s investment plan and general corporate expenditures of 2013.

Tags: Ecopetrol S.A.