secwatch.observer — SEC 8-K summary
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Issuer:     GRAN TIERRA ENERGY INC. (GTE)
CIK:        0001273441
Form:       8-K
Filed at:   2023-10-19T23:59:59+00:00
Accession:  0001104659-23-110103
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Gran Tierra completes exchange of ~$523M notes for new 9.5% notes due 2029
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- Exchange accepted 91.8% of 2025 notes ($247.1M) and 92.1% of 2027 notes ($275.8M); issued $487.6M of 9.500% senior secured amortizing notes due 2029.
- Early participants received $60M cash; per $1,000 2025 note, approx. $247 cash + $833 in new notes; per $1,000 2027 note, $1,020 in new notes.
- Existing restrictive covenants and events of default eliminated upon settlement; $28.1M of 2025 notes held by subsidiary also cancelled.
- Settlement expected October 20, 2023; no cash proceeds to company from issuance.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1273441/000110465923110103/0001104659-23-110103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1273441/000110465923110103/tm2328716d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-110103

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