GRAN TIERRA ENERGY INC. (GTE): debt financing — Gran Tierra commences exchange offers for up to $572M in senior notes; amends credit facility

GRAN TIERRA ENERGY INC.

Gran Tierra offers to exchange 6.250% Senior Notes due 2025 and 7.750% Senior Notes due 2027 for newly issued 9.500% Senior Secured Amortizing Notes due 2029.
Early tenders (by Oct 2) for 2025 notes: $1,080 per $1,000 principal in cash and New Notes, subject to $50M cash cap; late tenders: $1,000 in New Notes.
Early tenders for 2027 notes: $1,020 per $1,000 principal in New Notes; late tenders receive $950 per $1,000.
Credit facility with Trafigura amended: commitment reduced to $50M (from $100M), availability extended to Dec 31, 2023; undrawn, expected to fund cash portion of exchange.
Exchange offers require minimum valid tenders of 50% of each series of Existing Notes; Expiration Deadline Oct 18, 2023.

item 1.01 item 2.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

GRAN TIERRA ENERGY INC. amended credit facility of US$50 million with Trafigura PTE Ltd..

Instrument: credit facility
Principal: US$50 million
Counterparty: Trafigura PTE Ltd.
Event: amendment

Exact text from the filing

s borrowers, and Trafigura PTE Ltd.(“Trafigura”), as a lender, entered into a second amended and restated facility agreement

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Source: SEC EDGAR

accession 0001104659-23-101933

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