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Colombia’s Ecopetrol to redeem $1.5 billion of 7 5/8% notes due 2019
By Sarah Lizee
Olympia, Wash., Nov. 27 – Ecopetrol SA plans to redeem its $1.5 billion of 7 5/8% notes due 2019, according to a news release.
The notes will be redeemed on Dec. 27 at a price of $1,025.29 per $1,000 principal amount plus accrued interest to the redemption date equal to $32.62 per $1,000 principal amount, amounting to about $1,057.91 per $1,000 principal amount.
Ecopetrol said it was able to take advantage of the notes’ optional redemption clause due to the company’s solid cash position.
The petroleum company is based in Bogota, Colombia.
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