Ecopetrol’s SEC Registered $2.0 Billion Notes Offering

Shearman & Sterling acted as counsel to Ecopetrol in connection with a public offering of $2,000,000,000 aggregate principal amount of its 8.875% notes due 2033. Citigroup Global Markets, J.P. Morgan Securities, Santander Investment Securities Inc. and Scotia Capital (USA) acted as underwriters. The net proceeds of the offering were used by Ecopetrol to repay the remaining outstanding principal amount under the loan Ecopetrol entered into in connection with its acquisition of Interconexión Eléctrica, and for general corporate purposes, including, but not limited to, financing Ecopetrol's investment plan for 2023.

Ecopetrol is partially owned by the Colombian government and the only vertically integrated crude oil and natural gas company in Colombia, as well as the largest company in the country as measured by revenue, profit, assets and shareholders' equity. It is engaged in a broad range of oil and gas related activities, including exploration and production, refining and petrochemicals, transportation, distribution and marketing, and natural gas.

The Shearman & Sterling team below included visiting attorney Maria Lucila Seco and associate Gonzalo Robles.

The Team

• Grissel Mercado
• Larry Crouch
• Maria Marulanda Larsen
• Daniel Kachmar