debt
confidence high
sentiment neutral
materiality 0.85
Gran Tierra launches exchange offer for 9.5% notes due 2029; reports record production & preliminary 2025 results
GRAN TIERRA ENERGY INC.
- Exchange offer: up to $716.3M of 9.500% Senior Notes due 2029 for new 9.500% Secured Notes due 2031; early participation premium $50 cash per $1,000 principal.
- Conditions: require 66 2/3% consent and 80% tender; early deadline Feb 10, 2026; expiration Feb 26, 2026.
- December 2025 average production 48,235 BOEPD, highest monthly average; full-year 2025 average ~45,800 BOEPD.
- Preliminary 2025: revenue $590-610M; net debt ~$657M; adjusted EBITDA $270-290M; non-cash impairments $95-135M.
- New prepayment facility expected at SOFR+5.00% to fund cash consideration; existing Colombian RBL facility to be terminated.