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18.06.2019 – 11:15

The Republic of Ecuador

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

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

Original content of: The Republic of Ecuador, transmitted by news aktuell