The Republic of Ecuador Announces the Results of Its Invitation for Offers to Tender for Cash Its 2020 Notes

Quito, Ecuador (ots/PRNewswire) - 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 Common Principal PrincipalAmountTendered Percentage Principal Proration Principal
Codes Amount ofPrincipalAmountTendered(1) AmountAccepted for Factor AmountRemainingOutstanding
Outstanding Purchase
10.500% Rule 144AISIN: U.S.$ U.S.$1,399,233,000 93.28% U.S.$1,175,370,000 86.7496335% U.S.$324,630,000
Notes due XS1199930329Common 1,500,000,000
March 24, Code: 119993032
2020 (the Regulation SISIN:
"2020 XS1199929826Common
Notes") Code: 119992982

______________________

(1) Principal amount of Old Notes tendered pursuant to the
Invitation expressed as an approximate percentage of the aggregate
principal amount of Old Notes outstanding.

Holders whose Old Notes are accepted for purchase (after
proration) by Ecuador will be entitled to receive for such Old Notes
the applicable Purchase Price plus Accrued Interest (if any), which
will be paid on the Settlement Date, if the conditions of the
Invitation are met. The Settlement Date is expected to occur on June
18, 2019, subject to the terms and conditions set forth in the
Invitation. Ecuador reserves the right, in its sole discretion, to
delay the Settlement Date without extending the Withdrawal Deadline.

Any holder who fails to make delivery in accordance with the
Invitation shall not be entitled to receive any payment therefore
unless Ecuador, in its sole discretion, determines to waive any such
failure.

Ecuador will use the proceeds from the issuance of the New Notes
in the New Notes Offering for cash to pay for Old Notes purchased
pursuant to the Invitation.

Ecuador will cancel Old Notes purchased pursuant to the Invitation
following the Settlement Date.

NONE OF ECUADOR, THE DEALER MANAGERS OR THE INFORMATION AND TENDER
AGENT MAKES ANY RECOMMENDATION THAT ANY HOLDER TENDER OR REFRAIN FROM
TENDERING ALL OR ANY PORTION OF THE PRINCIPAL AMOUNT OF SUCH HOLDER'S
OLD NOTES, AND NO ONE HAS BEEN AUTHORIZED BY ANY OF THEM TO MAKE SUCH
A RECOMMENDATION. HOLDERS MUST MAKE THEIR OWN DECISIONS WHETHER TO
TENDER OLD NOTES, AND, IF SO, MUST DECIDE ON THE PRINCIPAL AMOUNT OF
OLD NOTES TO TENDER.

The Information and Tender Agent for the Invitation was:

Lucid Issuer
Services Limited
Tankerton Works12
Argyle WalkLondon
WC1H 8HAUnited
KingdomAttention:
Arlind Bytyqi and
Thomas
ChoquetE-mail:
ecuador@lucid-is.com
Tel: +44 20 7704
0880

The Dealer Managers for the Invitation were:

Citigroup Deutsche Bank J.P. Morgan
Global Markets Securities Inc. Securities LLC
Inc.388 60 Wall Street 383 Madison
Greenwich St, New York, New AvenueNew York,
7th FloorNew York 10005 NY
York, NY 10013 Attention: 10179Attention:
Attention: Liability Latin America
Liability Management Debt Capital
Management Group Collect: Markets
Group Collect: +1-212-250-2955 Collect:
+1-212-723-6106 U.S. Toll-free: +1-212-834-7279
U.S. Toll-free: +1-866-627-0391 U.S. Toll-free:
+1-800-558-3745 +1-866-846-2874

ots Originaltext: The Republic of Ecuador
Im Internet recherchierbar: http://www.presseportal.de

Original-Content von: The Republic of Ecuador, übermittelt durch news aktuell