The Republic of Ecuador ("Ecuador") announced today the results of its invitation for each holder to submit offers (the "Offers") to tender for cash the notes set forth in the table below (collectively, the "Old Notes"), upon the terms and subject to the conditions described in the invitation dated June 10, 2019 (the "Invitation"), subject to an aggregate amount not to exceed the proceeds received from the New Notes Offering (the "Aggregate Maximum Tender Amount"). The Invitation expired as scheduled at 8:00 a.m., New York time, on June 17, 2019. Capitalized terms not defined in this communication have the meanings specified in the Invitation.
The following table sets forth the results of the Invitation:
Securities ISINs and Principal Principal Percentage of Principal Amount Proration Principal
Common Amount Amount Principal Accepted for Factor Amount
Codes Outstanding Tendered Amount Purchase Remaining
Tendered(1) Outstanding
10.500% Rule 144A U.S.$ U.S.$ 93.28% U.S.$ 86.7496335% U.S.$324,630,000
Notes ISIN: 1,500,000,000 1,399,233,000 1,175,370,000
due March 24, XS1199930329
2020 (the Common Code:
"2020 119993032
Notes") Regulation S
ISIN:
XS1199929826
Common Code:
119992982
