Gran Tierra Energy: 91% of 2025 & 2027 notes tendered for new 9.5% secured notes due 2029

GRAN TIERRA ENERGY INC.

91.04% ($247.6M) of 2025 notes and 91.41% ($274.2M) of 2027 notes tendered by early deadline.
Early participants receive $1,080 per $1,000 principal for 2025 notes (part cash, approx. $242 cash + $838 in new notes) and $1,020 in new notes for 2027 notes.
New notes carry 9.500% coupon, are senior secured amortizing, and mature in 2029; no cash proceeds to company.
Consents obtained from required holders to eliminate substantially all restrictive covenants and amend events of default; supplemental indentures executed.
Exchange offers expire Oct 18, 2023; settlement expected Oct 20, 2023.

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